Auditing and Assurance Services 1st Edition by Iris Stuart

Exercise 11

Which of the following best describes why an independent auditor is asked to express an opinion on the fair presentation of financial statements a. Preparing financial statements that fairly present a company's financial position, results of operations, and cash flows without the expertise of an independent auditor is difficult.
B) Management has the responsibility to seek available aid in the appraisal of the financial information shown in its financial statements.
C) The opinion of an independent party is needed because a company may not be objective with respect to its own financial statements.
D) Seeing that all shareholders receive an independent report on management's stewardship in managing the affairs of the business is a customary courtesy.