Unfortunately, auditing is not necessary for effective financial reporting. Do you agree with this statement? Explain

Accounting and Taxation
The lessons this week focus on global accounting methods and taxation. Chapter 15 wraps up with accounting and taxation in global business. Management accounting and financial accounting principles are the topics, which include the differences between U.S. generally accepted accounting principles (GAAP) and international GAAP, as well as international financial reporting standards. Also discussed are the role of auditing and the Sarbanes-Oxley act, financial statement analysis, and global tax matters?

Unfortunately, auditing is not necessary for effective financial reporting. Do you agree with this statement? In 250 words, defend your position. Please cite work.

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