A company hires an independent auditor to conduct a traditional audit in accordance with GAAS. The auditors primary purpose is to

A. Report on compliance with applicable laws and regulations.

B. Attest to the presentation of the financial statements.

C. Report on the effectiveness of an entitys internal control over financial reporting.

D. Assure management that accounting principles have been applied correctly.

Explain in 50-100 (in your own) words why answer D is incorrect. Your answer should include a description of managements responsibilities and the independent auditors responsibilities.