Which one of the following statements is not an accurate description of the role of the external audit and the external auditors' report?
A) Enables users of financial statements to place a high degree of confidence in the audited financial information.
B) Assists shareholders in overcoming their information asymmetry problem.
C) Gives shareholders reasonable assurance that the annual report and financial statements present a true and fair view of the results for the year.
D) Bases the audit report on a 100% check of all the transactions undertaken during the year and a 100% check on the year end account balances.
Correct Answer:
Verified
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