Which of the following reports must be audited by an outside agency?
A) Annual financial statements
B) Monthly financial statements
C) Annual financial budgets
D) Budgets

Question

Quizplus · Accepted Answer

Annual financial statements are required by law to be audited by an outside agency to ensure accuracy and transparency. Monthly financial statements and budgets may be reviewed by internal auditors or management, but do not typically require an outside audit.

Which of the Following Reports Must Be Audited by an Outside