What term refers to a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between these assertions and established criteria, and communicating the results to interested users?
A) Auditing
B) Innovation
C) R&D
D) Strategic Management
E) Accounting

Question

Quizplus · Accepted Answer

The term described is auditing, which involves a systematic and objective examination of financial statements and related information to provide assurance to users about their accuracy and reliability. Auditors use established criteria, such as accounting principles and standards, to evaluate the assertions made about economic actions and events, and communicate the results to interested users in the form of an audit report. Innovation, R&D, strategic management, and accounting may be related to economic actions and events, but they do not specifically refer to the process of obtaining and evaluating evidence to ascertain the degree of correspondence between assertions and established criteria.

What Term Refers to a Systematic Process of Objectively Obtaining