Answered: auditors responsibilities to the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Which of the following statements are True about auditors responsibilities to the financial statements? a)To evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. b) To evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. c)The independent auditor must exercise his professional judgment and maintains professional skepticism (doubt regarding truth of something) throughout the planning and performance of the audit. d) An auditor conducting an audit in accordance with IFAC is responsible for obtaining reasonable assurance that the financial statements taken as a whole are free from material misstatement, whether caused by fraud or error. Only a) and d) All the a) , b) , c) and d) Only a) , b) and c) Only a) , b) and d)

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