When the auditors express an opinion on financial statements their responsibilities extend to:

A. The underlying wisdom of their client's management decisions.

B. Whether the results of their client's operating decisions are fairly presented in the financial statements.

C. Active participation in the implementation of the advice given to their client.

D. An ongoing responsibility for their client's solvency.

Question

Business

Ronan Horton

2 April, 13:35

When the auditors express an opinion on financial statements their responsibilities extend to:

A. The underlying wisdom of their client's management decisions.

B. Whether the results of their client's operating decisions are fairly presented in the financial statements.

C. Active participation in the implementation of the advice given to their client.

D. An ongoing responsibility for their client's solvency.

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Answers (1)

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Gerald · Answer 1

When the auditors express an opinion on financial statements their responsibilities extend to : Whether the results of their client's operating decisions are fairly presented in the financial statements.

Explanation:

An auditor is a person or corporation assigned to conduct an audit by a client. To order to be an auditor, a person should have a credential or relevant credentials of the regulatory authority for accounting and auditing.

The auditor is someone who reviews financial records and checks them. They ensure consistency of financial records and correct payment of taxes. We monitor financial activities to ensure that companies operate efficiently.

A statement that somehow the auditor is liable for expressing an opinion on the audit's financial statements. Examining details of the sums and reports in the financial statements on a test basis; evaluating the accounting standards used and relevant management estimates;