Which of the Following Best Describes the Auditor's Responsibility with Respect

Multiple Choice

Which of the following best describes the auditor's responsibility with respect to fair values?

A) The auditor should determine whether management has the intent and ability to carry out courses of action that may affect fair values.
B) The auditor should assess the risk of material misstatement of fair value measurements.
C) The auditor should obtain sufficient appropriate audit evidence to provide reasonable assurance that fair value measurements and disclosures are in conformity with GAAP.
D) The auditor should make fair value measurements and disclosures in accordance with GAAP and should identify and support any significant assumptions used.