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1. 2. The 'Purpose of an Audit and Premise upon which an Audit is conducted' section of Principles Underlying an Audit Conducted in Accordance with
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The 'Purpose of an Audit and Premise upon which an Audit is conducted' section of Principles Underlying an Audit Conducted in Accordance with GAAS states that management is responsible for all the following except for: Multiple Choice the preparation and fair presentation of the financial statement in accordance with the applicable financial reporting framework. the design, implementation, and maintenance of internal control. providing financial statement users with an opinion on whether the financial statements present fairly. ensuring that the financial statements are free from material misstatement, whether due to error or fraud. The Performance section of Principles Underlying an Audit Conducted in Accordance with GAAS states that for auditors to obtain reasonable assurance, they need to do all of the following except for: Multiple Choice make sure all audit team members have adequate training. obtains sufficient appropriate audit evidence. identifies and assesses risks of material misstatement. determines and applies appropriate materiality levels. OStep by Step Solution
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