It is always a good idea for auditors to begin an audit with a professional skepticism characterized by the assumption that O a potential conflict of interest always exists between the auditor and the management of the enterprise under audit. O in audits of financial statements, the auditor acts exclusively in the capacity of an auditor O the professional status of the independent auditor imposes commensurate professional obligations. O financial statements and financial data are verifiable. When Auditee Company prohibits auditors from visiting selected branch offices of the business, this is an example of interference with O reporting independence O investigative independence. auditors' training and proficiency. O audit planning and supervision MCQ 02-03 [LO4)] After the auditors learned of Auditee Company's failure to record an expense for obsolete inventory, they agreed to a small adjustment to the financial statements because the Auditee president told them the company would violate its debt agreements if the full amount were recorded. This is an example of a lack of O auditors' training and proficiency O planning and supervision. O audit investigative independence O audit reporting independence. The primary purpose for obtaining an understanding of the company's internal controls in a financial statement audit is to O determine the nature, timing, and extent of auditing procedures to be performed. O make consulting suggestions to management. obtain direct, sufficient, and appropriate evidential matter to afford a reasonable basis for an opinion on the financial statements O determine whether the company has changed any accounting principles. Which of the following is not mandatory when performing an audit in accordance with GAAS? no more questions O Proper supervision of assistants O Efficient performance of audit procedures O Understanding the auditee's system of internal controls O Adequate planning of work to be performed