Which is not true regarding critical audit matters

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Question - Which of the following is not true regarding critical audit matters (CAMs) in an external auditor's audit report pertaining to the financial statements, including the accompanying footnotes, for USA public companies?

a. CAM are matters that arise during the audit and involve especially challenging, subjective, or complex auditor judgment.

b. CAMs must pertain to accounts or disclosures that are material to the financial statements.

c. CAMs might provide investors and other market participants with new information about the overall quality (e.g., the neutrality, representational faithfulness) of the accounting methods and estimates used to prepare management's financial statements.

d. CAMs are designed to provide incremental assurance to financial-statement users about the accounts or disclosures discussed in the disclosed CAM.

Reference no: EM132674433

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