The auditor has considerable responsibility for notifying users as to whether or not the statements are properly stated. This imposes on the auditor a duty to:
A) be an insurer of the fairness of the statements.
B) provide reasonable assurance that material misstatements will be detected.
C) be a guarantor of the fairness of the statements.
D) be equally responsible with management for the preparation of the financial statements.

Question

Quizplus · Accepted Answer

The duty of an auditor is to provide reasonable assurance that material misstatements in financial statements will be detected, not to be an insurer or guarantor of their fairness. The auditor is not responsible for preparing the financial statements, that is the duty of management.

The Auditor Has Considerable Responsibility for Notifying Users as to Whether