Which of the following statements are true a) The auditor has a responsibility to plan and perform the audit to obtain absolute assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. b) The auditor has no responsibility to plan and perform the audit to obtain reasonable assurance that misstatement, whether caused by errors or fraud, that are not material to the financial statements are detected. c) The auditor has responsibility to plan and perform the audit to obtain reasonable assurance that misstatement, whether caused by errors or fraud, that are not material to the financial statements are detected. Only b) Only a) and c) Only a) Only a) and b)
Which of the following statements are true a) The auditor has a responsibility to plan and perform the audit to obtain absolute assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. b) The auditor has no responsibility to plan and perform the audit to obtain reasonable assurance that misstatement, whether caused by errors or fraud, that are not material to the financial statements are detected. c) The auditor has responsibility to plan and perform the audit to obtain reasonable assurance that misstatement, whether caused by errors or fraud, that are not material to the financial statements are detected. Only b) Only a) and c) Only a) Only a) and b)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process
Section: Chapter Questions
Problem 8CYBK
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Which of the following statements are true
a) The auditor has a responsibility to plan and perform the audit to obtain absolute assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud.
b) The auditor has no responsibility to plan and perform the audit to obtain reasonable assurance that misstatement, whether caused by errors or fraud, that are not material to the financial statements are detected.
c) The auditor has responsibility to plan and perform the audit to obtain reasonable assurance that misstatement, whether caused by errors or fraud, that are not material to the financial statements are detected.
Only b)
Only a) and c)
Only a)
Only a) and b)
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