Which of the following is an accurate statement about the accounting profession?
A)Recent audit failures have increased the public reputation of the accounting profession.
B)Public scrutiny of the profession prompts auditors to become more careful and efficient in their fundamental tasks.
C)The value of clear and accurate financial disclosure is less important in the current business environment.
D)The auditor's responsibility to management to provide financial information consistent with accounting regulations has never been more important.

Question

Quizplus · Accepted Answer

Public scrutiny of the accounting profession has increased since major audit failures in the early 2000s, such as the Enron scandal. As a result, auditors have become more careful and efficient in their fundamental tasks to maintain public trust in the profession.

Which of the Following Is an Accurate Statement About the Accounting