Which of the following is not true regarding the purpose of an audit performed on a set of financial statements in accordance with generally accepted auditing standards?
A) to provide users of the financial statements with an opinion on the financial statements
B) to provide users of the financial statements with absolute assurance that the financial statements contain no errors in them
C) to provide financial statement users with an opinion on whether the financial statements are presented fairly or not
D) to provide financial statement users with an opinion in accordance with the applicable financial reporting framework

Question

Quizplus · Accepted Answer

An audit performed in accordance with generally accepted auditing standards provides reasonable assurance, not absolute assurance, on the financial statements. Therefore, option B is not true regarding the purpose of an audit.

Which of the Following Is Not True Regarding the Purpose