Which of the following is not an underlying premise of an audit? A)Management must provide the auditor with all information relevant to the preparation and fair presentation of the financial statements. B)Management and the auditors have responsibility for the preparation of financial statements in accordance with the applicable financial reporting framework. C)Where appropriate,the auditor may obtain information from those charged with governance. D)The auditors should be provided unrestricted access to those within the entity from whom the auditor determines it necessary to obtain audit evidence.

Question

Quizplus · Accepted Answer

Option B is not an underlying premise of an audit. Instead, it is a shared responsibility of both management and auditors to prepare financial statements in compliance with the relevant financial reporting framework. The other options are underlying premises of an audit. Management providing the auditor with all necessary information, the auditor's ability to gather evidence from necessary sources, and the auditor getting information from those charged with governance are all important premises of an audit.

Which of the Following Is not an Underlying Premise of an Audit