The essence of the attest function is to:
A) assure the consistent application of correct accounting procedures.
B) determine whether the client's financial statements are fairly stated in accordance with an applicable financial reporting framework such as U.S. GAAP or IFRS.
C) examine individual transactions so that the auditor may certify as to their validity.
D) detect collusion and fraud.

Question

Quizplus · Accepted Answer

The attest function is primarily concerned with determining whether the client's financial statements are fairly stated in accordance with an applicable financial reporting framework such as U.S. GAAP or IFRS. While attestation may involve some level of assurance regarding the consistent application of correct accounting procedures or the detection of fraud, these are not the primary objectives of attest work.

The Essence of the Attest Function Is To