QUESTION 5 0.1 points Save Answer Audits are required for publicly traded companies in the United States. are designed to provide absolute assurance that the financial statements are free of material misstatement. do not require the auditor to express their opinion in a written report. are an assurance service, but not an attestation service QUESTION 6 0.1 points Save Answer External users of the financial statements value the auditor's report because of the auditor's independence from the client. look to the auditor's report as an indication of the statements' reliability use the audited information on the assumption that it is reasonably complete, accurate, and unbiased All of these QUESTION 7 0.1 points Save Answer The use of the Certified Public Accountant title is regulated by the Securities and Exchange Commission. state law through the licensing departments of each state. the American Institute of Certified Public Accountants through the licensing departments of the tax and auditing committees. the federal government. QUESTION 8 0.1 points Save Answer In the audit of historical financial statements, management asserts that the financial statements are fairly stated in accordance with what standards? regulatory accounting principles applicable international accounting standards applicable U.S. accounting standards applicable international accounting standards and applicable U.S. accounting standards QUESTION 9 0.1 points Save Answer A high, but not absolute, level of assurance is called probable assurance incomplete assurance reasonable assurance. limited assurance. QUESTION 10 0.1 points Save Answer A correct relationship among the auditor, the client, and the external users is management of a public company hires the independent auditor. the audit committee of a private company hires the independent auditor. the client provides capital to the external users the external users can rely upon the auditor's report to reduce information risk