After examining a firm's accounting information system, an auditor concluded that the firm's financial statements are fairly presented, thus fulfilling which auditing standard?

Question

Quizplus · Accepted Answer

The auditor's conclusion that the firm's financial statements are fairly presented fulfills the opinion auditing standard, which requires the auditor to give an opinion on whether the financial statements are presented fairly in all material respects in accordance with the applicable financial reporting framework, such as GAAP. Disclosure relates to the auditor's responsibility to ensure that the financial statements contain all necessary disclosures. Evidence is a component of the audit process, but not a specific auditing standard.

After Examining a Firm's Accounting Information System, an Auditor Concluded