Which of the following statements concerning audit risk and materiality is incorrect?

A. Reasonable assurance implies some risk that a material misstatement could be present in the financial statements and the competent auditor will fail to detect it.

B. Information is material if omitting it or misstating it could influence decisions that users make on the basis of the financial information of a specific reporting entity.

C. Audit risk is the risk that the auditor mistakenly expresses an adverse audit opinion when the financial statements contain no materially misstatements.

D. The auditors standard report states that the audit provides only reasonable assurance that the financial statements do not contain material misstatements