The Performance section of Principles Underlying an Audit Conducted in Accordance with GAAS states that for auditors to obtain reasonable assurance, they need to do all of the following except:
A. obtain sufficient appropriate audit evidence.
B. determine and apply appropriate materiality levels.
C. identify and assess risks of material misstatement.
D. make sure all audit team members have adequate training.
Answer: D
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The SEC is legally empowered to regulate accounting principles.
Ethical violations may lead to employee dismissal
Indicate whether the statement is true or false