(Solved): Which of the following best describes the main reason independent auditors report on management's fi ...

Which of the following best describes the main reason independent auditors report on management's financial statements? Multiple Choice

Management fraud may exist and it is likely to be defected by independent audtors.

The management that prepares the statements and the persons who use the statements may have conficting interests.

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

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

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