When an accounting firm conducts on independent audit,the accounting firms certify that
A) the firm is adhering to standard accounting principles and disclosing accurate information about sales, assets, and earnings.
B) the firm is adhering to federal regulations with regard to product safety, hiring practices, and environmental regulations.
C) the firm's management is qualified to conduct the firm's business in the best interest of share holders.
D) All of the above are correct answers.

Question

Quizplus · Accepted Answer

When an accounting firm conducts an independent audit, their primary responsibility is to ensure that the financial statements are prepared in accordance with standard accounting principles and that the information presented is accurate and reliable. The audit does not involve assessing the management's qualifications or evaluating the firm's compliance with federal regulations unrelated to financial reporting. Therefore, Option A is the correct answer.

When an Accounting Firm Conducts on Independent Audit,the Accounting Firms