Which of the following statements is true?
a. An independent auditor must be a
CPA.
b. Compliance audits are conducted to
determine adherence to rules and
regulations set by the auditor.
c. An audit, if properly conducted, ensures
that fraud is prevented.
d. After conducting an audit and release of
the auditor’s report, the primary
responsibility on the fairness of the
financial statements is shifted to the
auditor
a. An independent auditor must be a
CPA.
b. Compliance audits are conducted to
determine adherence to rules and
regulations set by the auditor.
c. An audit, if properly conducted, ensures
that fraud is prevented.
d. After conducting an audit and release of
the auditor’s report, the primary
responsibility on the fairness of the
financial statements is shifted to the
auditor