Which of the following is not an underlying premise of an audit?
A)Management should provide the auditor with all information relevant to the preparation and fair presentation of the financial statements.
B)Management and the auditors have responsibility for the preparation of financial statements in accordance with the applicable financial reporting framework.
C)Where appropriate, the auditor may obtain information from those charged with governance.
D)The auditors should be provided unrestricted access to those within the entity from whom the auditor determines it necessary to obtain audit evidence.

Question

Quizplus · Accepted Answer

The premise that management and auditors have responsibility for the preparation of financial statements in accordance with the applicable financial reporting framework is not an underlying premise of an audit, but rather a responsibility of those involved in financial reporting. An underlying premise of an audit is that the financial statements are the responsibility of management, and that the auditor's role is to express an opinion on the financial statements.

Which of the Following Is Not an Underlying Premise of an Audit