The Auditor's Responsibility Paragraph in the Auditor's Report Includes Two

question 41

Multiple Choice

The Auditor's Responsibility paragraph in the auditor's report includes two important phrases that are directly related to materiality and risk.What are these two phrases?
1) 'relevant ethical requirements relating to audit engagements'
2) 'plan and perform the audit'
3) 'free from material misstatement'
4) 'reasonable assurance'

• A) 1 and 2
• B) 3 and 4
• C) 2 and 3
• D) 1 and 4

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Definitions:

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A drug that caused birth defects when given to pregnant women in the 1950s and 1960s, now used under strict controls for some diseases.

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The developmental journey within the womb starting at conception and culminating in birth.

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A component of the ecological systems theory that emphasizes the role of time and historical context in human development.

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A severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States and leading to widespread unemployment and poverty.