The principal function of CPAs is to:
A) Audit income tax returns to determine if taxpayers have underpaid their income taxes.
B) Conduct audits to determine whether the employees of a business are performing their jobs honestly and efficiently.
C) Advise individual investors on stock market investments.
D) Perform audits to determine the fairness and reliability of a company's financial statements.

Question

Quizplus · Accepted Answer

CPAs primarily perform audits to determine the fairness and reliability of a company's financial statements. This involves reviewing financial data, internal controls, and procedures to ensure that the company's financial statements accurately represent its financial position and performance. While CPAs may provide tax advice and other consulting services, auditing financial statements is their main function.

The Principal Function of CPAs Is To