The objective of a review of interim financial information is to provide the accountant with a basis for reporting whether:
A)A reasonable basis exists for expressing an updated opinion regarding the financial statements that were previously audited.
B)Material modifications should be made to conform with generally accepted accounting principles.
C)The financial statements are presented fairly in accordance with standards of interim reporting.
D)The financial statements are presented fairly in accordance with generally accepted accounting principles.

Question

Quizplus · Accepted Answer

The objective of a review of interim financial information is to determine whether material modifications should be made for the financial statements to conform with generally accepted accounting principles (GAAP). This ensures that the interim financial reports provide accurate and reliable information to users.

The Objective of a Review of Interim Financial Information Is