Some critics claim the usefulness of the audit report is limited because:
A)Auditors do not examine all of the transactions
B)Language in the audit report relies on subjective evaluations such as what is meant by "reasonable"
C)Transactions examined are based on materiality and risk assessment determinations
D)All of the above may create doubts about usefulness

Question

Quizplus · Accepted Answer

All of the above factors may contribute to doubts about the usefulness of the audit report. Auditors cannot examine every transaction, and the language used in the report is subjective. Additionally, the transactions examined are based on materiality and risk assessment determinations, which may not capture all potential issues.

Some Critics Claim the Usefulness of the Audit Report Is