Which of the following best describes the reason why independent auditors report on financial statements?
A) A management fraud may exist and it is more likely to be detected by independent auditors.
B) An audit provides credibility to the financial statements.
C) A misstatement of account balances may exist and is generally corrected as the result of the independent auditors' work.
D) Poorly designed internal control may be in existence.
Correct Answer:
Verified
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