According to the AICPA,the purpose of an audit is to enhance the degree of confidence that users can place in the financial statement.

Question

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This statement accurately reflects the purpose of an audit according to the AICPA (American Institute of Certified Public Accountants). Auditors perform procedures to obtain evidence and provide an opinion on whether the financial statements are fairly presented in accordance with generally accepted accounting principles. The resulting opinion is intended to increase the degree of confidence users can place in the financial statements.

According to the AICPA,the Purpose of an Audit Is to Enhance