The Preface to the Auditing Standards describes the fundamental principles that govern an audit.According to these principles,the purpose of an audit is
A)to provide reasonable assurance that there are no misstatements in the financial statements
B)to plan the audit to provide reasonable assurance of detecting fraud
C)to ensure that the financial statements are fairly presented
D)to increase the level of confidence that outsiders place in the financial statements

Question

Quizplus · Accepted Answer

The fundamental purpose of an audit is to enhance the confidence of users in the financial statements, which is achieved by providing an independent opinion on whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework.

The Preface to the Auditing Standards Describes the Fundamental Principles