The auditor has no responsibility to plan and perform the audit to obtain reasonable assurance that misstatements, whether caused by errors or fraud, that are not ________ are detected.
A)important to the financial statements
B)statistically significant to the financial statements
C)material to the financial statements
D)identified by the client

Question

Quizplus · Accepted Answer

The auditor has the responsibility to plan and perform the audit to obtain reasonable assurance that material misstatements, whether caused by errors or fraud, are detected. Misstatements that are not material to the financial statements are not a concern for the auditor, and they are not required to detect them.

The Auditor Has No Responsibility to Plan and Perform the Audit