The basic purpose audited financial statements is to

Question $5$ options:

Provide the reporting company with assurance that all assets are protected from theft of embezzlement.

Prepare financial statements for companies that do not have their own accounting departments.

Provide users of the financial statements with assurance that the statements are reliable and are presented in conformity with US GAAP.

Provide both the reporting company and the users of the financial statements with a written guarantee that the statements are error$-$free.