An audit involves the examination of the ﬁnancial reports (prepared by the management of the company) to ensure that they represent what they claim and conform with IFRS.

Question

Quizplus · Accepted Answer

An audit is performed to ensure that the financial statements are accurate and comply with accounting standards, such as IFRS. Therefore, the statement is true.

An Audit Involves the Examination of the ﬁNancial Reports (Prepared