6-1 State the objective of the audit of financial statements. In general terms, how do auditors meet that objective?
Answer:
The objective of the audit of financial statements by the independent auditor is the expression of an opinion on the fairness with which the financial statements present financial position, results of operations, and cash flows in conformity with generally accepted accounting principles.
The auditor meets that objective by accumulating sufficient appropriate evidence to determine whether the financial statements are fairly stated.
