Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 14 - No. 13)
Which of the following best describes the main purpose of an audit of a company's financial statements?
To provide assurance that the financial statements are free from material misstatement.
To assist the company in preparing the financial statements.
To provide legal advice to the company.
To ensure that the company pays the correct amount of taxes.
Explanation
The primary goal of an audit is to provide reasonable assurance that the financial statements are accurate.
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