The audit report states that the audit provides:
A) a guarantee of quality.
B) complete assurance that the financial statements are free from misstatements.
C) absolute assurance that the internal control environment is operating effectively.
D) None of the above.

Question

Quizplus · Accepted Answer

An audit report does not provide a guarantee of quality, complete assurance of the absence of misstatements, or absolute assurance that the internal control environment is operating effectively. The auditor provides a reasonable assurance that the financial statements are fairly presented, in all material respects, in accordance with the applicable financial reporting framework.

The Audit Report States That the Audit Provides