The scope paragraph of the standard unqualified audit report in the auditor responsibility section states that the audit is designed to
A) discover all errors and/or irregularities.
B) discover material errors and/or irregularities.
C) obtain reasonable assurance of whether the statements are free of material misstatement.
D) conform to a generally accepted financial reporting framework.

Question

Quizplus · Accepted Answer

The scope paragraph outlines the purpose of the audit, which is to obtain reasonable assurance that the financial statements are free of material misstatement. The audit does not guarantee the detection of all errors and irregularities, and while the auditor must adhere to a generally accepted financial reporting framework, this is not the primary objective of the audit.

The Scope Paragraph of the Standard Unqualified Audit Report in the Auditor