The criteria for evaluating quantitative information vary. For example, in the audit of historical financial statements by public accounting firms, the criteria are usually:
A) regulations of the Australian Securities and Investment Commission.
B) regulations of the Australian Taxation Office.
C) applicable accounting standards.
D) generally accepted auditing standards.

Question

Quizplus · Accepted Answer

Applicable accounting standards are the criteria used to evaluate the accuracy and fairness of financial statements during an audit.

The Criteria for Evaluating Quantitative Information Vary