Question

The principal objective of an audit is the examination of financial statements of an enterprise with a view for the auditor to form and express an independent opinion on the truth and fairness for the benefit of which one of the following?

• A. The Shareholders
• B. The Corporate Governance
• C. The Corporate Affairs Commission
• D. None of the above

Answer 1

The correct option is A The Shareholders

Shareholders are the true owners of the financial statements and the audit report is also addressed to them. They are the main users of the financial statements since they have financial stake in the company.