The audit report represents the _______.
A)beginning of the audit process
B)"end product" of the financial statement audit
C)"end product" of the internal audit review and audit
D)opinion of management with respect to the fairness and accuracy of the financial statements

Question

Quizplus · Accepted Answer

The audit report is the final outcome of the financial statement audit, representing the auditor's opinion on whether the financial statements are fairly presented in all material respects, in accordance with the applicable financial reporting framework. It is not the beginning of the audit process, nor does it reflect management's opinion on the financial statements. The internal audit review and audit have a separate audit report.

The Audit Report Represents the _______