Reference no: EM133108824

Question - AU-C 200 addresses the auditor's overall responsibilities when conducting a financial statement audit in accordance with generally accepted auditing standards. Paragraphs .01-.19 discuss such matters as the purpose of an audit, the level of assurance provided by the auditor, the role of materiality, the need to exercise professional judgment and maintain professional skepticism, audit evidence, audit risk and its components (inherent risk, control risk, and detection risk, which comprise what is commonly referred to as the "audit risk model").

Write a cohesive summary of paragraphs .01-.19 of AU-C 200 emphasizing the matters noted above.