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What is the auditor responsible for in an audit engagement?

At a high-level, the auditor is required to plan an engagement to obtain reasonable assurance that the financial statements are free from material misstatement. If the audit is an integrated audit, then auditor also needs to assess the company’s internal control framework.

The auditor should then provide an opinion on their assessment of the financial statements and the company’s internal controls.

However, the auditor can only complete their responsibility if management fulfills their responsibility first.

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