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) provide reasonable assurance that material misstatements will be detected.
B) be an insurer of the fairness of the statements.
C) be equally responsible with management for the preparation of the financial statements.
D) be a guarantor of the fairness of the statements.

Question

Quizplus · Accepted Answer

The auditor's duty is to provide reasonable assurance that material misstatements will be detected, not to be an insurer, equally responsible, or guarantor of the fairness of the statements. This means the auditor needs to conduct their audit in accordance with auditing standards and procedures that will give them a reasonable basis for their opinion on whether or not the financial statements are properly stated.

The Auditor Has Considerable Responsibility for Notifying Users as to Whether