After the auditor has completed all the procedures, it is necessary to combine the information obtained to reach an overall conclusion as to whether the financial statements are fairly presented.This is a highly subjective process that relies heavily on:
A) the auditor's professional judgement.
B) generally accepted accounting principles.
C) the Code of Ethics for Professional Accountants.
D) generally accepted auditing standards.

Question

Quizplus · Accepted Answer

The process of combining information obtained during an audit to reach an overall conclusion about the fairness of financial statements is largely subjective and relies heavily on the auditor's professional judgement. While generally accepted accounting principles, the Code of Ethics for Professional Accountants, and generally accepted auditing standards provide guidance for the auditor, ultimately it is up to the auditor to exercise professional judgement and make a determination about the overall fairness of the financial statements.

After the Auditor Has Completed All the Procedures, It Is