The Existence of Audit Risk Is Recognized by the Statement

question 23

Multiple Choice

The existence of audit risk is recognized by the statement in the auditor's standard report that the auditor ________.

• A)obtains reasonable assurance about whether the financial statements are free of material misstatement
• B)assesses the accounting principles used and also evaluates the overall financial statement presentation
• C)realizes some matters,either individually or in the aggregate,are important while other matters are not important
• D)is responsible for expressing an opinion on the financial statements,which are the responsibility of management

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Definitions:

Disturbed Relationship

A relationship characterized by conflict, lack of trust, or emotional instability, requiring intervention to resolve.

Personal Habits

Regular practices or behaviors that are individual to a person, often reflecting lifestyle choices and personality.

Pathology

The medical discipline that studies the causes, nature, and effects of diseases in the body.

Religious Beliefs

Convictions and practices related to the existence, nature, and worship of a deity or deities and the spiritual aspects of life.