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Identify Each of the Following Statements as Being Related to the Responsibilities

Question 123

Short Answer

Identify each of the following statements as being related to the responsibilities (RSP),performance (P),or reporting (RPT)principles.
______ 1.Evaluating audit firm personnel's independence with respect to a prospective client.
______ 2.Gathering sufficient,appropriate evidence.
______ 3.Exercising an appropriate level of professional skepticism.
______ 4.Issuing a qualified opinion because of a material,yet not pervasive,departure from GAAP.
______ 5.Establishing materiality levels for use in determining the amount of evidence to be gathered.
______ 6.Considering the susceptibility of the account balance to misstatement to assess the risk of material misstatement.
______ 7.Possessing the appropriate competence and capabilities to perform the audit.
______ 8.Considering whether a scope limitation precludes sufficient evidence to allow an opinion to be expressed on the entity's financial statements.
______ 9.Planning the work to provide reasonable assurance that the financial statements are free from material misstatement.
______ 10.Evaluating the potential relationships between the auditor and family who are employed by the entity.

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1.RSP,2.P,3.RSP,4.RP...

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