What is the role of the external auditor in the financial reporting process?

Chapter 5 – Review Questions 5-1, 5-3, 5-4, 5-5
Chapter 7 – Review Questions 7-1, 7-2, 7-4
Chapter 8 – Review Questions 8-2, 8-4, 8-5

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REVIEW QUESTION

1. Generally, how is the problem of management override and collusion addressed?

2. What is the role of the external auditor in the financial reporting process?

3. How is materiality determined?