Assessing disclosures does not require reasonable assurance of which of the following?
A)The disclosures are understandable to users.
B)Disclosed events and transactions have occurred and pertain to the entity.
C)All material and immaterial disclosures have been reported.
D)The information is disclosed accurately and at appropriate amounts.

Question

Quizplus · Accepted Answer

Assessing disclosures does not require reasonable assurance that all material and immaterial disclosures have been reported. However, disclosures that are material to the financial statements must be presented fairly and accurately in accordance with the applicable financial reporting framework. The other options (A, B, and D) are all important requirements for assessing disclosures.

Assessing Disclosures Does Not Require Reasonable Assurance of Which of the Following