In the audit of accounting estimates,such as the allowance for doubtful accounts,the auditor strives to provide reasonable assurance about which of the following?
A)All material accounting estimates have been developed properly.
B)The estimates are reasonable.
C)The estimates are presented in accordance with GAAP.
D)All of the above are true.

Question

Quizplus · Accepted Answer

In the audit of accounting estimates, the auditor's goal is to ensure that all material estimates have been developed properly, are reasonable, and are presented in accordance with Generally Accepted Accounting Principles (GAAP). This comprehensive approach helps provide reasonable assurance about the financial statements' accuracy and reliability.

In the Audit of Accounting Estimates,such as the Allowance for Doubtful