The auditor has no responsibility to plan and perform the audit to obtain reasonable assurance that misstatements that are not ________ are detected.
A) important to the financial statements
B) statistically significant to the financial statements
C) material to the financial statements
D) identified by the client

Question

Quizplus · Accepted Answer

The auditor's responsibility is to plan and perform the audit to obtain reasonable assurance that material misstatements in the financial statements are detected. Misstatements that are immaterial or not significant to the financial statements do not require the same level of audit attention. Therefore, choice C is the most appropriate answer.

The Auditor Has No Responsibility to Plan and Perform the Audit