The auditor's responsibilities section of the standard unmodified opinion audit report states that the auditor is
A) responsible for the financial statements and the opinion on them.
B) responsible for the financial statements.
C) exercising professional judgment throughout the audit.
D) expressing an opinion on the effectiveness of internal controls.

Question

Quizplus · Accepted Answer

The auditor's responsibilities include exercising professional judgment throughout the audit. They are not responsible for the financial statements themselves; that responsibility lies with the entity's management. The auditor's role is to express an opinion on the financial statements based on the audit. Expressing an opinion on the effectiveness of internal controls is a separate matter that may be included in other types of audits but is not a standard part of the unmodified opinion audit report's description of auditor responsibilities.

The Auditor's Responsibilities Section of the Standard Unmodified Opinion Audit