QUESTION 11 If the assessed risk of material misstatement for an assertion is high, the auditors should avoid auditing the assertion in question auditors need to gather less persuasive audit evidence auditors need to gather more persuasive audit evidence the auditors should consider withdrawing from the engagement Who considers whether work has been performed in accordance with appropriate audit standards? Working paper reviewer Engagement partner Quality control reviewer Audit partner O QUESTION 4 An auditor issues a modified audit opinion when the auditor O concludes the financial statements are not presented fairly in accordance with the applicable financial reporting framework because of one or more material misstatements concludes the financial statements are not presented fairly in accordance with the applicable financial reporting framework because of one or more immaterial misstatements is able to gather sufficient appropriate audit evidence to draw a conclusion as to the fair presentation of the financial statements is not able to gather sufficient appropriate audit evidence to draw a conclusion about the unfair presentation of the financial statements QUESTION 7 A compilation engagement is an audit of the financial statements, whereby an auditor expresses an opinion on the financial statements an audit of the system of internal control, whereby an auditor expresses an opinion on the system of Internal control when an accounting firm assists management in the presentation of financial statements but does not audit, review. nor provide assurance as to whether the financial statements are presented fairly. when an audit firm assists management in the presentation of financial statements and attempts to provide assurance as to whether the financial statements are presented fairly