Which of the Following Is NOT True? the External Auditor's

question 16

Multiple Choice

Which of the following is NOT true? The external auditor's report provides the auditor's opinion that:

• A) the financial statements give a true and fair view.
• B) the financial statements are in accordance with the provisions of the Corporations Act 2001.
• C) the financial statements are in accordance with applicable accounting standards.
• D) the financial statements are accurate.

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Definitions:

Independent Internal Verification

The review and verification of data or transactions by an unbiased party within the organization.

Human Resource Controls

The procedures and policies put in place to manage personnel and ensure compliance with employment laws.

Worksheet

A document or file used for organizing and planning data, calculations, or information, often used in accounting and finance.

Permanent Accounts

Balance sheet accounts that carry their balances over into the next accounting period as they are not closed or reset at the end of the fiscal year.