Which of the following requires CPAs to provide reasonable assurance that significant fraud or misstatement is NOT present in financial statements?

Question

Quizplus · Accepted Answer

Generally Accepted Auditing Standards (GAAS) require that CPAs obtain reasonable assurance that the financial statements are free from material misstatement, including fraud. This is achieved through a risk-based audit approach that includes assessing the risk of fraud and performing procedures to detect and respond to it. GAAS also requires CPAs to document their assessment of fraud risk and the procedures performed to address it.

Which of the Following Requires CPAs to Provide Reasonable Assurance