Which of the following is NOT true about the role of the external auditors?
A) Must test the effectiveness of the company's internal controls.
B) Must issue a report that gives an opinion about the company's internal controls.
C) Must examine the company's financial statements by performing adequate tests of the underlying financial information.
D) Must issue a qualified opinion of the financial statements if no material misstatements are found.

Question

Quizplus · Accepted Answer

External auditors are required to issue an unqualified opinion if they find that the company's financial statements are presented fairly in all material respects. They are not required to issue a qualified opinion if no material misstatements are found. Therefore, choice D is not true about the role of external auditors.

Which of the Following Is NOT True About the Role