Describe why the auditor obtains assurance by auditing transactions and ending balances, including presentation and disclosure.
AUDIT RESPONSIBILITIES AND OBJECTIVES Explain the objective of conducting an audit of financial statements and an audit of internal controls. Distinguish management’s responsibility for the financial statements from the auditor’s responsibility for verifying those statements. Explain the auditor’s responsibility for discovering material misstatements due to fraud or error. Describe the need to maintain professional skepticism […]