1.When assessing fair presentation, the audit engagement partner

A. Ensures the financial statements follow GAAP.

B. Assesses the level of audit risk determined at the beginning of the audit.

C. Ensures the financial statements follow IFRS.

D. Assesses the overall presentation, structure, and content of the financial statements and notes.

2.The difference between an emphasis of matter (EOM) and the other matters (OM) paragraph is that when an OM paragraph is used,

A. The auditor is issuing a qualified opinion.

B. The information is not presented or disclosed in the financial statements.

C. There is material uncertainty regarding the going concern assumption.

D. The auditor is issuing a denial of opinion.

3.Which of the following does not need to be communicated to the audit committee?

A. Illegal acts.

B. Immaterial weaknesses in internal controls.

C. Significant findings of the audit.

D. Misstatements, adjusted and recorded.

4.In making a final assessment of materiality and risk, the auditor determines the likely misstatement for an account.

True or False

5.When the auditor concludes that the financial statements are presented fairly in all material respects in accordance with GAAP, a modified opinion can be expressed.

True or False