Author Question: The auditor's best defense when material misstatements arenotuncovered is to have conducted the audit (Read 39 times)

Rafic Kaaki · **on:** Aug 21, 2022

Question 1

The auditor has no responsibility to plan and perform the audit to obtain reasonable assurance that misstatements that are not ________ are detected.
◦ important to the financial statements
◦ statistically significant to the financial statements
◦ material to the financial statements
◦ identified by the client

Question 2

The auditor's best defense when material misstatements are not uncovered is to have conducted the audit
◦ in accordance with generally accepted auditing standards.
◦ as effectively as reasonably possible.
◦ in a timely manner.
◦ only after an adequate investigation of the management team.

swagmaster69 · **Reply #1 on:** Aug 21, 2022

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