A foreseeable user of a financial statement is unknown to the auditor,but the auditor can reasonably expect this type of person to use the financial statement.

Question

Quizplus · Accepted Answer

As per auditing standards, the auditor should consider the intended user of the financial statements while conducting the audit. However, the auditor may not know the exact identity of all possible users. The auditor should still consider the reasonable expectations of potential users while conducting the audit. Therefore, option A is correct.

A Foreseeable User of a Financial Statement Is Unknown to the Auditor,but