- CFA Exams
- CFA Level I Exam
- Topic 4. Financial Statement Analysis
- Learning Module 1. Introduction to Financial Statement Analysis
- Subject 3. Regulated Sources of Information
CFA Practice Question
An auditor can provide reasonable assurance regarding the ______.
II. health of the company itself
III. integrity of company records
I. financial statements themselves
II. health of the company itself
III. integrity of company records
Correct Answer: I only
An unqualified/clean opinion means the company's condition, position, and operations are fairly presented in the financial statements.
User Contributed Comments 2
| User | Comment |
|---|---|
| leon121 | Why not integrity of company records?? Auditors check inventories, check the books, etc... |
| Kennyk11 | I believe it's because while the auditor is able to determine if the numbers are correct, they cannot be fully responsible in the case that the audited company decided to falsify their documents, disregarding integrity. There's only so much that an auditor can do and their job is to make sure the numbers are right. |