Standards of the public company accounting oversight board

Assignment Help Financial Accounting

Reference no: EM13747101

1. The purpose of an audit is to express an opinion on whether the financial statements are in accordance with GAAS.

True

False

2. Assertions relating to the financial statements are set forth by the auditor.

True

False

3. An audit should test every item in the financial records of the client.

True

False

4. The completeness assertion posits that all transactions and events that should have been recorded were recorded.

True

False

5. Audits of issuers must follow the standards of the Public Company Accounting Oversight Board.

True

False

Reference no: EM13747101

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