The Responsibilities section of the Principles Underlying an Audit Conducted in Accordance with GAAS states that auditors are responsible for having appropriate competence and:
A)independence with respect to the financial statements and supplementary disclosures.
B)exercising professional care as judged by peer reviewers.
C)capabilities to perform the audit.
D)objectivity as an auditor as verified by proper supervision.

Question

Quizplus · Accepted Answer

The Responsibilities section specifically states that auditors are responsible for having the capabilities to perform the audit, which refers to their technical competence, knowledge of the industry, and understanding of auditing standards and procedures. The other answer choices are also responsibilities of auditors, but they are not specifically mentioned in this section. Option A is covered in the Ethics and Independence section, Option B is covered in the Performance section, and Option D is covered in the General Principles section of the Principles Underlying an Audit Conducted in Accordance with GAAS.

The Responsibilities Section of the Principles Underlying an Audit Conducted