Which of the following statements about external company auditors is NOT true?
A) There is substantial judgement in the audit process.
B) External company auditors cannot credibly audit statements they have prepared.
C) External company auditors must be independent.
D) External company auditors provide assurance that the financial statements audited by them contain no mistakes.

Question

Quizplus · Accepted Answer

External auditors provide reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error, but they do not guarantee that the financial statements contain no mistakes. Their role is to express an opinion on the truth and fairness of the financial statements based on their audit.

Which of the Following Statements About External Company Auditors Is