Some critics claim the usefulness of the audit report is limited because:
A) Auditors do not examine all of the transactions
B) Language in the audit report relies on subjective evaluations such as what is meant by "reasonable"
C) Transactions examined are based on materiality and risk assessment determinations
D) All of these may create doubts about usefulness

Question

Quizplus · Accepted Answer

All of these factors may contribute to doubts about the usefulness of the audit report, as auditors cannot examine every single transaction and the language used in the report is subjective. Additionally, the focus on materiality and risk may lead to certain transactions being excluded from examination, further limiting the overall usefulness of the report.

Some Critics Claim the Usefulness of the Audit Report Is