Which of the following statements pertaining to the audit function is incorrect?

A) The primary responsibility for the information in the financial statements lies with the auditors.
B) The audit report describes the auditor's opinion of the fairness of the financial statements.
C) An audit ensures that the financial statements conform to generally accepted accounting principles.
D) The auditor is a person who is independent of the reporting company.

Audit Function

The process of examining financial records and transactions by a third party to ensure accuracy and compliance with accounting standards.

Financial Statements

Comprehensive reports created to present a company's financial performance, financial position, and cash flows over a specific period.

Audit Report

A formal statement issued by an auditor at the conclusion of an audit process, summarizing their opinion on an entity's financial statements.