When audited financial statements are presented in a document containing other information, the auditor
A) Has an obligation to perform auditing procedures to corroborate the other information.
B) Is required to issue an "except for" qualified opinion if the other information has a material misstatement of fact.
C) Should read the other information to consider whether it is inconsistent with the audited financial statements.
D) Has no responsibility for the other information because it is not part of the basic financial statements.

Question

Quizplus · Accepted Answer

Auditing standards require auditors to read the other information to consider whether it is consistent with the audited financial statements. If auditors identify material inconsistencies, they should address them in the report. However, auditors are not required to perform additional auditing procedures to corroborate the other information unless they choose to do so. Auditors are not responsible for the content of the other information, but they must ensure that the presentation of the audited financial statements and the other information as a whole is not misleading.

When Audited Financial Statements Are Presented in a Document Containing