The audit report written by the outside auditors evaluates a company's:
A)financial statements only.
B)internal controls over financial reporting only.
C)management skills.
D)financial statements and internal controls over financial reporting.

Question

Quizplus · Accepted Answer

The audit report issued by outside auditors evaluates both the financial statements and internal controls over financial reporting. It provides an opinion on the fairness of the financial statements and whether they comply with generally accepted accounting standards, as well as the effectiveness of internal controls in ensuring the accuracy of financial reporting. The audit report does not evaluate management skills.

The Audit Report Written by the Outside Auditors Evaluates a Company's