Which of the following best describes the primary role and responsibility of independent external auditor?
A)Produce a company's annual financial statements and notes.
B)Express an opinion on the fairness of a company's annual financial statements and footnotes.
C)Provide business consulting advice to audit clients.
D)Obtain an understanding of the client's internal control structure and give management a report about control problems and deficiencies.

Question

Quizplus · Accepted Answer

The primary role and responsibility of an independent external auditor is to express an opinion on the fairness of a company's annual financial statements and footnotes. This opinion provides assurance to the users of financial statements that the information presented in the financial statements is reliable and accurate. The auditor is not responsible for producing the financial statements or providing consulting advice, although they do assess the client's internal control structure as part of their audit process.

Which of the Following Best Describes the Primary Role and Responsibility