The audit opinion is addressed to
A)management
B)the SEC
C)the board of directors and the shareholders
D)the PCAOB

Question

Quizplus · Accepted Answer

The audit opinion is addressed to the board of directors and the shareholders because they are the ones who are responsible for the financial statements of the company. The audit provides an independent and objective opinion on the fairness of the financial statements and the adequacy of internal controls over financial reporting. The SEC and PCAOB also have an interest in the audit opinion but the primary audience is the board of directors and shareholders.

The Audit Opinion Is Addressed to