The following two statements are representative of attitudes and opinions sometimes encountered by CPAs in their professional practices:

1. Today's audit consists of test checking. This is dangerous because test checking depends upon the auditor's judgment, which may be defective. An audit can be relied upon only if every transaction is verified.

2. An audit by a CPA is essentially negative and contributes to neither the gross national product nor the general well-being of society. The auditor does not create; he merely checks what someone else has done.

Required Evaluate each of the above statements and indicate

a. Areas of agreement with the statement, if any.

b. Areas of misconception, incompleteness or fallacious reasoning included in the statement, if any.
Complete your discussion of each statement (both parts a and

b) before gong on to the next statement.