The Objective of the Ordinary Examination by the Independent Auditor

question 14

Multiple Choice

The objective of the ordinary examination by the independent auditor is the expression of an opinion on:

• A) the statement of financial position and the statement of financial performance.
• B) the fairness of the financial statements.
• C) the accuracy of the financial statements.
• D) the accuracy of the annual report.

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Definitions:

Frugality

The quality of being economical with resources or expenditure; practicing restraint in the use of materials and funds.

Cognitive Dissonance

A psychological state of discomfort arising from holding two or more conflicting beliefs, values, or attitudes, leading to behavior change or attitude adjustment.

Consistency

is the tendency to maintain a uniform behavior, attitude, or belief over time.

Cognitions

Mental processes involved in gaining knowledge and comprehension, including thinking, knowing, remembering, judging, and problem-solving.