Question

The purpose of an audit is to _______. A. provide financial statement users with an opinion by an independent auditor on whether the financial statements are presented fairly in accordance with an applicable financial reporting framework B. provide internal auditors with an opinion by the external auditor on whether the financial statements are presented fairly in accordance with an applicable financial reporting framework C. provide absolute assurance that the financial statements conform to Generally Accepted Accounting Principles (GAAP)

Answer 1

Answer: A. provide financial statement users with an opinion by an independent auditor on whether the financial statements are presented fairly in accordance with an applicable financial reporting framework

Step-by-step explanation:

The purpose of audit is to provide financial statement users with an opinion by an independent auditor on whether the financial statements are presented fairly in accordance with an applicable financial reporting framework.

Audit is the inspection of accounting books in an organization by an auditor which can also be followed by checking or the inventory physically in order to ascertain that transactions are truthfully recorded and tallies what is written in the book of accounts. It is done to done to determine accuracy of financial statements.