The Final Step in Most Financial Statement Audits Is

question 27

Multiple Choice

The final step in most financial statement audits is:

• A) Review the internal control system.
• B) Issue an opinion.
• C) Prepare financial statements.
• D) Perform compliance testing.

---

Definitions:

Standard Deviation

A numerical value calculating how much the dataset deviates from its average, illustrating the breadth of data distribution.

Confidence Interval

A range of values derived from sample data that is likely to contain the true value of an unknown population parameter.

Population Standard Deviation

A measure of the dispersion or spread of all values in a given population, quantifying how much the values differ from the population mean.

Average Expense

An average amount of money spent, typically calculated over a specific period of time, reflecting common expenditure patterns.