Question 1
Which of the following would
not increase the risks of material misstatement at the overall financial statement level?
◦ effective oversight by the board of directors
◦ deficiencies in management's integrity
◦ inadequate accounting systems
◦ All of these
Question 2
As management is responsible for the financial statements, failure to assess the risk of material misstatement is not detrimental to the auditor.
◦ true
◦ false