Choose the Correct Statement About Audits of Corporations

Multiple Choice

Choose the correct statement about audits of corporations:

A) Outside auditors are paid by the government for auditing the financial statements of corporations.
B) Revenue Canada performs audits of corporations' financial statements.
C) Public corporations (those whose stock are traded on exchanges) are subject to annual audit as to their compliance with GAAP.
D) It is the employees of the firm being audited who perform the annual audit of the financial statements of that firm.