When auditors issue an audit report that expresses an audit opinion what duty are they fulfilling?
A)The duty to use reasonable care and skill.
B)The duty to be independent.
C)Statutory duty to report to members and to ASIC.
D)A procedural duty.

Question

Quizplus · Accepted Answer

Auditors have a statutory duty to report their findings to the members of the company and to regulatory bodies like ASIC (Australian Securities and Investments Commission) as part of their audit opinion.

When Auditors Issue an Audit Report That Expresses an Audit