1.The objective of the ordinary audit of financial statements is the expression of an opinion on:

1. The fairness of the financial statements in all material respects.
2. The accuracy of the financial statements.
3. The accuracy of the annual report.
4. The accuracy of the balance sheet and income statement.

2.The responsibility for the preparation of the financial statements and the accompanying footnotes belongs to:

a.The auditor.

b.Management.

c.Both management and the auditor equally.

d.Management for the statements and the auditor for the notes.

3.Auditors accumulate evidence to:

1. Defend themselves in the event of a lawsuit.
2. Justify the conclusions they have otherwise reached
3. Satisfy the requirements of the Securities and Exchange Commission.
4. Enable them to reach conclusions about the fairness of the financial statements.