When the auditor concludes that the financial statements are materially misstated and are not prepared in accordance with GAAP, the auditor should revise the financial statements.

Question

Quizplus · Accepted Answer

It is management's responsibility, not the auditor's, to prepare and revise the financial statements. The auditor's role is to audit the financial statements and express an opinion on their fairness and adherence to GAAP.

When the Auditor Concludes That the Financial Statements Are Materially