The 'Purpose of an Audit and Premise Upon Which an Audit

question 59

Multiple Choice

The 'Purpose of an Audit and Premise upon which an Audit is Conducted' section of Principles Underlying an Audit Conducted in Accordance with GAAS states that management is responsible for all the following except for:

• A)the preparation and fair presentation of the financial statement in accordance with the applicable financial reporting framework.
• B)the design, implementation, and maintenance of internal control.
• C)providing financial statement users with an opinion on whether the financial statements present fairly.
• D)ensuring that the financial statements are free from material misstatement, whether due to error or fraud.

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Definitions:

Tablet PC

A portable personal computer equipped with a touchscreen as the primary input device, designed for mobile use and small enough to be held in one hand.

Cellphone

A portable device that allows users to make and receive calls, send text messages, and access various multimedia and internet functions.