Multiple Choice
Evidence is important to the audit because the only way the auditor can obtain reasonable assurance that the financial statements are prepared in accordance with the applicable financial reporting framework is
A) when the auditor has sufficient appropriate evidence to reduce the risk of material misstatement to an acceptably low level
B) when the auditor has sufficient appropriate evidence to provide reasonable assurance that the financial statements are fairly presented
C) when the auditor has sufficient appropriate evidence to reduce audit risk to an acceptably low level
D) when the auditor has sufficient appropriate evidence to reduce detection risk to an acceptably low level
Correct Answer:

Verified
Correct Answer:
Verified
Q48: The auditing standards describe audit evidence as
Q49: The condition,rationalization to commit fraud,is present when<br>A)An
Q50: The fraud discussion may include the following
Q51: The auditor is required to document his
Q52: The auditor is required to document in
Q54: The auditor uses the "external confirmation" procedure
Q55: The auditor may consider withdrawing from the
Q56: The auditor is responsible for gathering evidence
Q57: The term "earnings management" is often used
Q58: Which of the following are audit procedures