An independent auditor's report is a guarantee that the financial statements are free from fraud or material error.

Question

Quizplus · Accepted Answer

An independent auditor's report provides assurance that the financial statements are presented fairly in all material respects in accordance with the applicable financial reporting framework, but it does not provide a guarantee that the financial statements are free from fraud or material error. Auditors conduct their work in accordance with professional standards and aim to obtain reasonable assurance about whether the financial statements are free from material misstatement. However, they cannot provide absolute certainty or detect all instances of fraud or error.

An Independent Auditor's Report Is a Guarantee That the Financial