The purpose of an audit is to ensure that financial statements have been prepared according to
A) the particular company's standards.
B) the industry's standards.
C) generally accepted accounting principles.
D) international accounting standards.
E) the standards of certified public accountants.

Question

Quizplus · Accepted Answer

The purpose of an audit is to ensure that financial statements have been prepared according to generally accepted accounting principles, which are a set of accounting standards and guidelines that are commonly recognized and widely used. These principles ensure consistency and accuracy in financial reporting, and are the basis for the preparation of financial statements.

The Purpose of an Audit Is to Ensure That Financial