Question

As per SA 200, the objective of an audit of financial statements is to:

Q: Answer-As per SA 200, the objective of an audit of financial statements is to:

SA 200 states that the purpose of an audit is to enhance the degree of confidence of intended users in the financial statements. This is achieved by the auditor expressing an opinion on whether the statements are prepared, in all material respects, in accordance with the applicable framework.

A Detect fraud and error.

B Provide absolute assurance that the financial statements are free from material misstatement.

C Express an opinion on whether the financial statements are prepared in all material respects in accordance with an applicable financial reporting framework.

D Prepare and present the financial statements of the entity.

E Guarantee the future viability of the entity.

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