Which of the following statements about
independent financial statement audit is
incorrect?
a. The term "scope of the audit" refers to
audit procedures deemed necessary in
the circumstances to achieve the objective
of the audit.
b. The auditor's opinion enhances the
credibility of the financial statements.
c. The phrase used to express the
auditor's opinion is "present fairly, in all
material respects".
d. The risk that the auditor will fail to
uncover material misstatement is
eliminated when the auditor
conducts the audit in accordance
with PSAs.
independent financial statement audit is
incorrect?
a. The term "scope of the audit" refers to
audit procedures deemed necessary in
the circumstances to achieve the objective
of the audit.
b. The auditor's opinion enhances the
credibility of the financial statements.
c. The phrase used to express the
auditor's opinion is "present fairly, in all
material respects".
d. The risk that the auditor will fail to
uncover material misstatement is
eliminated when the auditor
conducts the audit in accordance
with PSAs.