Asked by Ankush Aggarwal on Jul 14, 2024
Verified
Independent auditors are advisors who analyze financial statements and other economic information to formulate forecasts and stock recommendations.
Independent Auditors
Independent auditors are external auditors who examine the financial records and practices of a corporation to ensure accuracy and compliance with generally accepted accounting principles.
Financial Statements
Comprehensive reports that provide information on a company's financial performance, financial position, and cash flows over a specific period.
- Recognize the objectives and outcomes of an external audit and the role of independent auditors.
Verified Answer
LT
La'Dale ThomasJul 18, 2024
Final Answer :
False
Explanation :
Independent auditors are responsible for providing an opinion on the accuracy and completeness of financial statements, but they are not advisors who formulate forecasts and stock recommendations. That is the role of financial analysts and investment advisors.
Learning Objectives
- Recognize the objectives and outcomes of an external audit and the role of independent auditors.