The auditor's responsibility related to related party relationships and transactions is
A)to obtain an understanding of related party relationships and transactions sufficient to determine if fraud is present
B)to obtain an understanding of related party relationships and transactions sufficient to determine if misstatements are present
C)to obtain an understanding of related party relationships and transactions sufficient to determine if fraud risk factors are present
D)to obtain sufficient appropriate audit evidence about whether related party relationships and transactions have been properly classified in the financial statements
E)to obtain sufficient appropriate audit evidence about whether related party relationships and transactions have been appropriately identified,accounted for,and disclosed in the financial statements
F)both A and B
G)both C and E
H)both D and E

Question

Quizplus · Accepted Answer

The Answer of The auditor's responsibility related to related party relationships and transactions is
A)to obtain an understanding of related party relationships and transactions sufficient to determine if fraud is present
B)to obtain an understanding of related party relationships and transactions sufficient to determine if misstatements are present
C)to obtain an understanding of related party relationships and transactions sufficient to determine if fraud risk factors are present
D)to obtain sufficient appropriate audit evidence about whether related party relationships and transactions have been properly classified in the financial statements
E)to obtain sufficient appropriate audit evidence about whether related party relationships and transactions have been appropriately identified,accounted for,and disclosed in the financial statements
F)both A and B
G)both C and E
H)both D and E

The Auditor's Responsibility Related to Related Party Relationships and Transactions