Question

Which of the following statements is false regarding audit reporting?

a. Auditing standards require auditors to provide positive assurance—that is, an explicit statement as to whether the financial statements are presented fairly.
b. The auditor should provide an opinion in accordance with the auditor's findings or state that an opinion cannot be expressed.
c. The auditor's opinion should state whether the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework.

Answer 1

None

Step-by-step explanation:

In simple words, audit reporting or auditing refers to the process under which an independent third part, licensed by the regulatory body, examines the financial statements of an organisation to check if such statements depicts fair information and are made as per the regulatory standards.

The auditor if satisfied gives the positive assurance and if not then he or she can ask for further information or can directly report the statements to the regulatory bodies.