Final answer:
The primary auditor responsible for issuing an opinion on the financial statements under AICPA standards is known as the principal auditor. so the correct answer is option 2.
Step-by-step explanation:
Under AICPA auditing standards, the primary auditor issuing the opinion on the financial statements is called the principal auditor. The principal auditor is responsible for planning, directing, and performing the audit, and they issue the audit report on the financial statements, whether the audit is conducted solely by this auditor or in conjunction with other auditors.
The term component auditor refers to an auditor who performs work on the financial information of a component that is included in the financial statements audited by the principal auditor.
The group engagement partner is another term that could be used, but its use is more commonly associated with international standards rather than AICPA standards. Lastly, majority auditor is not a standard term used in auditing under AICPA guidelines. Therefore, the correct answer to the question would be option 2) principal auditor.Under AICPA auditing standards, the primary auditor issuing the opinion on the financial statements is called the principal auditor.