f $477$

lect

$2,3$ LO $1-31-13$ An independent audit adds value to the communication o financial information because the audit

a$.$ Confirms the exact accuracy of management's financial representations.

b$.$ Lends credibility to the financial statements.

c$.$ Guarantees that financial data are fairly presented.

d$.$ Assures the readers of financial statements that any fraudulent activity has been corrected.

$1-2,$ LO $1-31-14$ Which of the following best describes the reason why an