This type of audit is completed to determine whether or not the client has prepared and presented its financial statements fairly, in accordance with established financial accounting criteria.
A)GAAP audit
B)Financial statement audit
C)Compliance audit
D)Fair application audit

Question

Quizplus · Accepted Answer

This type of audit is specifically focused on determining if the financial statements of the client are presented in accordance with established financial accounting criteria. This is a financial statement audit where the auditor gives an opinion on whether the financial statements of the organization are free from material misstatements, and are in conformity with the Generally Accepted Accounting Principles (GAAP).

This Type of Audit Is Completed to Determine Whether or Not