What role do independent auditors play in municipal bond offerings?

Independent auditors play a crucial role in municipal bond offerings primarily by providing audited financial statements that serve as reliable documentation of the issuer's financial position. This process ensures transparency and credibility in the financial reporting, which is critical for prospective investors assessing the issuer's creditworthiness and overall financial health.

The audited financial statements prepared by independent auditors give potential bondholders confidence that the financial information is accurate and complies with relevant regulations and accounting standards. This due diligence helps foster investor trust and promotes successful bond sales by ensuring that all financial aspects of the issuer are thoroughly vetted and verified.

The other options relate to activities that are not typically part of the auditor's responsibilities. For example, selling bonds directly to investors, managing interest payments, or handling public relations are roles filled by other professionals such as underwriters or financial advisors, rather than independent auditors. Thus, the auditors' primary engagement is to provide credible financial oversight through their audits, facilitating informed investment decisions in the municipal bond market.