22. By performing the audit of financial statements of a company with Professional

Skepticism, the auditor can provide an absolute assurance that the statements are

free from material misstatements.

A. True

B. False

23. Management is not only responsible for establishing and maintaining adequate

internal control over financial reporting (ICFR) but it must also assess the

effectiveness of internal control as of the end of the period.

A. True

B. False