Which of the following best describes the main reason that independent auditors report on managements financial statements?

-A management fraud may exist, and if it does, it will always be detected by independent auditors.

-The management team that prepares the statements and the persons who use the statements may have conflicting interests.

-Misstated account balances may be corrected as the result of the independent audit work.

-The management team that prepares the statements may have a poorly designed system of internal control.