The reason auditors collect evidence is to:
A) determine if management's assertions are fair.
B) obtain a reasonable basis for forming an opinion on the financial statements.
C) obtain a reasonable basis for forming an opinion on the effectiveness of ICFR.
D) All of the above.

Question

Quizplus · Accepted Answer

Auditors collect evidence to determine if management's assertions are fair, to obtain a reasonable basis for forming an opinion on the financial statements, and to obtain a reasonable basis for forming an opinion on the effectiveness of internal control over financial reporting (ICFR). Therefore, all of the options are correct.

The Reason Auditors Collect Evidence Is To