Once auditors have gathered sufficient appropriate audit evidence, evaluated uncorrected misstatements, and completed the required communications with those charged with governance _______.
A)the final step is to prepare and issue the independent auditor's report
B)the final step is to confer with the client's legal counsel
C)the audit report should be sent to the internal audit function for review
D)the report should be sent to the SEC for modification and approval

Question

Quizplus · Accepted Answer

The final step in the audit process is to prepare and issue the independent auditor's report, summarizing the findings and conclusions of the audit. This report is distributed to various stakeholders including the client's management, shareholders, and regulatory agencies. The report must be prepared in accordance with auditing standards and should provide an unbiased opinion of the financial statements. Conferring with the client's legal counsel, sending the report to internal audit, or sending the report to the SEC for modification and approval are not the final steps in the audit process.

Once Auditors Have Gathered Sufficient Appropriate Audit Evidence, Evaluated Uncorrected