Audit and Assurance Practice Exam 2026 – The Complete All-in-One Guide for Exam Success!

The auditor's primary role remains consistent during an audit of a foreign company under International Financial Reporting Standards (IFRS). The fundamental responsibility of the auditor is to express an opinion on the fairness of the financial statements, regardless of the jurisdiction in which the company operates or the reporting framework being used.

While there may be additional considerations or complexities involved when auditing a foreign company—such as differences in local regulations, language barriers, or unique risks associated with that particular market—the core objective of the audit does not change. The auditor evaluates whether the financial statements provide a true and fair view of the company's financial position and performance in accordance with the applicable financial reporting framework, which is IFRS in this case.

Therefore, stating that the auditor's primary role is altered under these circumstances is not accurate, as their essential function and responsibilities remain focused on the assurance of financial statement credibility and compliance with the relevant standards.