The criteria for evaluating quantitative information vary.For example, in the audit of historical financial statements by public accounting firms, the criteria are usually:
A) regulations of the Australian Taxation Office.
B) regulations of the Australian Securities and Investment Commission.
C) applicable accounting standards.
D) generally accepted auditing standards.

Question

Quizplus · Accepted Answer

In the audit of historical financial statements, the criteria are usually the applicable accounting standards, which provide the framework for preparing and presenting financial statements.

The Criteria for Evaluating Quantitative Information Vary