To obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, the auditor fulfills several performance responsibilities, including
A) complying with the AICPA Code of Professional Conduct.
B) issuing a written report on the financial statements.
C) determining and applying materiality levels.
D) having the appropriate competence to perform the audit.

Question

Quizplus · Accepted Answer

The auditor must determine and apply materiality levels to ensure that the financial statements are free from material misstatement. This is a key performance responsibility in the audit process.

To Obtain Reasonable Assurance About Whether the Financial Statements as a Whole