An Auditor Passes on Several Errors Discovered During the Audit

question 5

Multiple Choice

An auditor passes on several errors discovered during the audit.Which of the following represents the best reason for the auditor not requesting that the adjustments be made by management?

• A)management has properly disclosed the extent of the errors in the footnotes to the consolidated financial statements of the year under audit.
• B)the attorney's response to audit inquiry includes the statement that counsel is unaware of any errors and can make no such estimates.
• C)the auditor is not required to discover all material errors in the financial statements under the concept of reasonable assurance.
• D)the errors are not material in aggregate after considering the reversing effects of passed entries from previous periods.

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