The existence of audit risk is recognized by the statement in the independent auditor's standard report that
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The existence of audit risk is recognized by the statement in the independent auditor's standard report that the auditor
a. Obtains reasonable assurance about whether the financial statements are free of material misstatement.
b. Assesses the accounting principles used and also evaluates the overall financial statement presentation.
c. Realizes some matters, either individually or in the aggregate, are important while other matters are not important.
d. Is responsible for expressing an opinion on the financial statements, which are the responsibility of management.
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Related Book For 
Auditing An Assertions Approach
ISBN: 9780471134213
7th Edition
Authors: G. William Glezen, Donald H. Taylor
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