财务

问题如下：

Question Which of the following statements is most accurate about the responsibilities of an auditor for a publicly traded firm in the United States? The auditor must:

选项：

A.state that the financial statements are prepared according to generally accepted accounting principles. B.ensure that the financial statements are free from error, fraud, or illegal acts. C.express an opinion about the effectiveness of the company’s internal control systems.

解释：

Solution

1. Incorrect. The statements are those prepared by management, not the auditor. The auditor is expressing an opinion as to whether the statements are fairly presented and free from material error.

2. Incorrect. The auditor only provides reasonable assurance that the statements are free from material error.

3. Correct. For a publicly traded firm in the United States, the auditor must express an opinion as to whether the company’s internal control system is in accordance with the Public Accounting Oversight Board, under the Sarbanes–Oxley Act. The opinion is given either in a final paragraph in the auditor’s report or as a separate opinion.

Introduction to Financial Statement Analysis

• describe the importance of regulatory filings, financial statement notes and supplementary information, management’s commentary, and audit reports