The Auditor Has No Responsibility to Plan and Perform the Audit

question 84

Multiple Choice

The auditor has no responsibility to plan and perform the audit to obtain reasonable assurance that misstatements that are not ________ are detected.

• A) important to the financial statements
• B) statistically significant to the financial statements
• C) material to the financial statements
• D) identified by the client

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Definitions:

Normally Distributed

Describes a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Starting Salaries

The initial amount of money that an employee earns annually when beginning a new job.

Standard Deviation

A system for evaluating the degree of dispersion or deviation among a collection of statistics.

Normally Distributed

A type of distribution in which data is symmetrically distributed with most of the observations clustering around the central peak and the probabilities for values further away from the mean tapering off equally on both sides.