Indicate Whether Each of the Following Statements About the Auditor's

True/False

Indicate whether each of the following statements about the auditor's role in financial accounting is true or false.a)________ A financial audit guarantees the accuracy of all amounts reported on the financial statements.b)________ A financial audit is a detailed examination of a company's financial statements and underlying accounting records.c)________ The primary responsibility of the independent accounting firm is to the public.d)________ The most favorable type of audit report is called a qualified opinion.e)________ The ultimate responsibility for the financial statements lies with management of the company rather than the independent accounting firm.