Which party enhances the confidence of financial report users? A) management B) auditor C) board of directors D) audit committee 7) The accuracy of information included in footnotes that accompany the audited financial statements of a publicly traded company is the primary responsibility of the: A) Australian Securities and Investment Commission. B) independent auditor. C) company's management. D) stock exchange officials. 8) The auditor's opinion is to be written so that which party can understand its language and terminology? A) the reader B) investors C) management D) a prudent user 9) Determining whether the client's financial statements are fairly stated is the goal of which function? A) consulting B) auditing C) compilation D) attestation 10) The responsibility for the preparation of the financial statements and the accompanying footnotes belongs to: A) management for the statements and the auditor for the notes. B) the auditor. C) management. D) both management and the auditor equally. 11) When preparing the financial statements, it is acceptable for the auditor to prepare: A) the footnotes for a client. B) the statements for a client. C) a draft of the statements and footnotes for a client. D) a draft of the statements for a client. 12) A directors' declaration in accordance with the Corporations Act must state the directors are satisfied the financial statements: A) comply with applicable accounting standards. B) give a true and fair view. C) are in accordance with the Act. D) all of the above 13) Misstatements are usually considered material if the: A) combined uncorrected errors in the financial statements are likely to have changed or influenced the decisions of a reasonable person using the financial statements. B) auditor has quantified a measure of materiality. C) combined uncorrected errors and fraud in the financial statements are likely to have changed or influenced the decisions of a reasonable person using the financial statements. D)