Which of the following statements about
independent financial statement audit is
correct?
a. The audit of financial statements
relieves management of its
responsibilities for die financial
statements.
b. An audit is designed to provide limited
assurance that the financial statements
taken as a whole are free from material
misstatement.
c. The auditor's opinion is not an
assurance as to the future viability
of the entity as well as the
effectiveness and efficiency with
which management has conducted
the affairs of the entity.
d. The procedures required to conduct an
audit in accordance with PSAs should
be determined by the client who
engaged the services of the auditor
independent financial statement audit is
correct?
a. The audit of financial statements
relieves management of its
responsibilities for die financial
statements.
b. An audit is designed to provide limited
assurance that the financial statements
taken as a whole are free from material
misstatement.
c. The auditor's opinion is not an
assurance as to the future viability
of the entity as well as the
effectiveness and efficiency with
which management has conducted
the affairs of the entity.
d. The procedures required to conduct an
audit in accordance with PSAs should
be determined by the client who
engaged the services of the auditor