An audit of the financial statements of Camden Corporation is being conducted by external auditors. The external auditors are expected to:
A)certify the correctness of Camden's financial statements.
B)make a complete examination of Camden's records and verify all of Camden's transactions.
C)give an opinion on the fair presentation of Camden's financial statements in conformity with the applicable financial reporting framework (e.g., GAAP, IFRS).
D)give an opinion on the attractiveness of Camden for investment purposes and critique the wisdom and legality of its business decisions.

Question

Quizplus · Accepted Answer

The role of external auditors is to provide an opinion on the fair presentation of financial statements in conformity with applicable financial reporting framework, such as GAAP and IFRS. They are not responsible for certifying the correctness of the financial statements or making a complete examination of all transactions. Additionally, they do not provide opinions on the attractiveness of the company for investment or critique its business decisions.

An Audit of the Financial Statements of Camden Corporation Is