The desired level of assurance is defined as
A)the level of assurance that the account balance or class of transactions is not misstated
B)the amount of misstatement,on the basis of the auditor's professional judgment,that should be present in the account balance or class of transactions
C)the maximum misstatement in the account balance or class of transactions that the auditor is willing to accept
D)the level of audit risk the auditor is willing to accept

Question

Quizplus · Accepted Answer

The desired level of assurance refers to the level of audit risk the auditor is willing to accept, which essentially means how confident the auditor needs to be that the financial statements do not contain material misstatements.

The Desired Level of Assurance Is Defined as