Management's Assertions in the Financial Statements Are of Relevance to the Audit

question 72

Multiple Choice

Management's assertions in the financial statements are of relevance to the audit process because:

• A)they are the procedures that will be performed by the audit team.
• B)they are utilized by auditors in developing proper tests and procedures.
• C)they are direct evidence that management has prepared financial statements in accordance with generally accepted audit standards.
• D)they relate more to the audit while the financial statements belong to the auditor.

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Definitions:

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