Objectives Of An Audit

Question 1

What is the objective of an audit?

Answer 1

Enables the audior to express an opinion on whether the financial statements are prepared in accordance with an applicable financial reporting framework

Question 2

What is the objective of an audior?

Answer 2

To obtain reasonable assurance about whether the financial statements are free from material misstatement (whether due to fraud or error). This will enable the auditor to express an opinion on whether the financial statements are prepared in accordance with an applicable financial reporting framework.