Which one of the following reports is most likely to be required to be audited by an outside entity?
A)Monthly financial statements
B)Annual financial budgets
C)Annual financial statements
D)All of the above

Question

Quizplus · Accepted Answer

Annual financial statements are most likely to be required to be audited by an outside entity, as they provide a comprehensive overview of an organization's financial performance over the course of the year. Monthly financial statements and annual financial budgets may also be reviewed by outside entities, but they are less comprehensive and therefore less likely to be subject to external audit requirements.

Which One of the Following Reports Is Most Likely to Be