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Basic Question 9 of 18
Which of the following statements best describes the level of accuracy provided by a standard audit report with respect to errors? The audited financial statements are ______
B. reasonably assured to be free of all errors.
C. reasonably assured to be free of material errors.
A. fully assured to be free of material errors.
B. reasonably assured to be free of all errors.
C. reasonably assured to be free of material errors.
User Contributed Comments 2
| User | Comment |
|---|---|
| prashgs | what is a material error? |
| accyyy | A major error. |
I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz
Learning Outcome Statements
describe the importance of regulatory filings, financial statement notes and supplementary information, management's commentary, and audit reports
describe information sources that analysts use in financial statement analysis besides annual and interim financial reports
CFA® 2025 Level I Curriculum, Volume 2, Module 1.