The Financial Statements Are Prepared by Client Management _______

Multiple Choice

The financial statements are prepared by client management _______.

A) based on beginning of year financial conditions
B) for formal review and issuance of an audit opinion by the internal auditors
C) on the basis of conditions existing at year-end, which would be December 31 for a calendar year entity
D) on the basis of conditions existing at year-end, which should always be December 31