AUDITING LL W/ CONNECT <C>
AUDITING LL W/ CONNECT <C>
11th Edition
ISBN: 9781307416268
Author: MESSIER
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 18, Problem 18.1RQ
To determine

Concept Introduction:

Auditing is an independent examination of financial statements; where in independent auditor provided his opinion on the true and fair view of the financial statement. The set of financial statement includes income statement, balance sheet, statement of owner’s equity, and statement of cash flows.

To discuss: The statement that auditor is associated with a set of financial statement.

Expert Solution & Answer
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Explanation of Solution

Auditor’s objective is to provide opinion of the financial statement of the entity. Auditing is an independent examination of financial statements; where in independent auditor provided his opinion on the true and fair view of the financial statement. The set of financial statement includes income statement, balance sheet, statement of owner’s equity, and statement of cash flows. Hence the statement that auditor is associated with a set of financial statement indicates that auditor focuses on the set of the financial statement while performing the audit.

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