Financial audits primarily concern providing reasonable assurance about whether financial statements are presented fairly in all material respects in conformity with generally accepted accounting principles (GAAP),2 or with a comprehensive basis of accounting other than GAAP.
Audits look at if a statement is presented fairly.
Audits don't look at if a statement is presented fairly.
A man is leaving the grocery store.
The children are outside playing.
A kid is playing.
There is a policeman next to a motorcycle.
Legal services for the poor is in need of funds.
The cook is sitting in the dining room.