Question
Which of the following are true statements? A. An auditor is responsible for detecting fraud. B. When an auditor issues an opinion, they are guaranteeing
Which of the following are true statements?
A. An auditor is responsible for detecting fraud.
B. When an auditor issues an opinion, they are guaranteeing the company will continue into the future.
C. An unqualified audit opinion guarantees that the financial statements are 100% correct.
D. The auditor tests a sample of transactions.
E. The primary responsibility for fraud prevention and detection remains with those charged with governance.
F. Peer reviews of audits ensure that auditing standards have been applied correctly.
G. An unqualified opinion does not guarantee that there are no misstatements, but it does mean that there is no fraud at that entity.
Remoteness is why the landlord may be requesting a report on the store sales information.
The required parties for an assurance engagement are metthe landlord is the intended user, the auditor is the practitioner, and Bravo Bags is the responsible party.
An auditor could not perform this engagement as they would not have the expertise.
The auditor could issue a Notice to Reader and meet the landlords objectives.
This is not a financial statement audit, and only financial statements can be audited.
The landlord would like to enhance the reliability of the sales figures reported.
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