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Questions and Answers
What is the primary role of auditors when they perform the assurance function?
In the scenario provided, who is considered the client for the audit conducted by Sampson & Delila, CPAs?
According to CPA Canada, what is the main purpose of conducting an audit of financial statements?
Study Notes
Assurance Function of Auditors
- The primary role of auditors is to perform the assurance function, which involves providing an independent opinion on the fairness and accuracy of financial statements.
Client Identification
- In the scenario provided, the client for the audit conducted by Sampson & Delila, CPAs is the entity whose financial statements are being audited.
Purpose of Audit
- According to CPA Canada, the main purpose of conducting an audit of financial statements is to provide an independent opinion on whether the financial statements are presented fairly and in accordance with the applicable financial reporting framework.
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Description
Test your knowledge on the assurance function in auditing with this multiple choice questions quiz. Explore concepts related to lending credibility to financial statements, detecting fraud, and more.
