Monica is an accountant with Mildred & Lane Inc. ,and she has recently been asked to visit Maine Manufacturers to survey their financial records,assess their compliance with federal and state laws,and provide an opinion reflecting the state of the company's financial records.Monica's assessment of the financial records of Maine Manufacturers is called a(n)________.

Question

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Monica's assessment of the financial records of Maine Manufacturers is called an audit. An audit is an independent examination of financial statements, records, and related documents to provide an opinion on the fairness of the presentation of the financial information and to assess the compliance of the company with applicable laws and regulations.

Monica Is an Accountant with Mildred & Lane Inc