Question

Which of the following activities is the responsibility of the auditor?

1) Ensuring the information included in the financial statements is presented fairly and complies with the applicable financial reporting framework.
2) Planning and performing the audit with professional skepticism.
3) Providing the auditors with access to all records, documentation, and personnel relevant to the preparation and fair presentation of the financial statements, and any additional information the auditors may consider relevant to complete the audit.
4) Designing, implementing, and maintaining internal control relevant to the preparation and fair presentation of the financial statements.

Answer 1

The responsibility of the auditor includes ensuring the accuracy and fairness of financial statements, planning and performing the audit with skepticism, and accessing relevant records and personnel.

Step-by-step explanation:

The responsibility of the auditor in this case is to ensure that the information included in the financial statements is presented fairly and complies with the applicable financial reporting framework. This means that the auditor checks the accuracy and completeness of the financial information presented in the statements. They also need to plan and perform the audit with professional skepticism, which involves being objective and questioning the information provided.

Another responsibility of the auditor is to have access to all the relevant records, documentation, and personnel related to the preparation and presentation of the financial statements. This allows them to gather the necessary evidence and information to complete the audit. Lastly, designing, implementing, and maintaining internal control relevant to the preparation and fair presentation of the financial statements is not the responsibility of the auditor but rather the responsibility of the entity being audited.