For a public company audit,the auditors are primarily responsible for preparing the financial statements and expressing an opinion on whether they follow generally accepted auditing standards.

Question

Quizplus · Accepted Answer

The auditors are responsible for performing an audit on the financial statements prepared by management, but it is management's responsibility to prepare the financial statements. The auditors express an opinion on whether the financial statements are presented fairly in all material respects in accordance with the applicable financial reporting framework, not on whether they follow generally accepted auditing standards.

For a Public Company Audit,the Auditors Are Primarily Responsible for Preparing