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

Short Answer

Indicate whether each of the following statements about the auditor's role in financial accounting is true or false.
_____ a) The proper conduct of an audit guarantees the accuracy of all figures on the financial statements.
_____ b) The financial audit is a detailed review of a company's financial statements and documents.
_____ c) The primary responsibility of the independent accounting firm is to the audit client.
_____ 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.