What is one of the auditor's responsibilities according to CA06?

The auditor's responsibility to plan the audit and obtain sufficient evidence is critical as outlined in CA06, which emphasizes the need for auditors to design an effective audit strategy. Planning involves understanding the entity's operations, identifying areas that may have a higher risk of material misstatement, and developing a tailored audit approach.

Obtaining sufficient evidence is equally important because it provides the foundation for the auditor's opinion on the financial statements. This evidence is gathered through various audit procedures, such as tests of controls and substantive testing, which allow the auditor to assess the reliability of the information presented in the financial statements. The necessity of sufficient evidence is to ensure that the auditor can form a reasonable conclusion about whether the financial statements are free from material misstatement, thus fulfilling the assurance aspect of the audit.

Engaging in this thorough planning and evidence-gathering process is essential to uphold the integrity of the audit, support the auditor's findings, and ultimately strengthen the confidence of stakeholders in the financial reporting process.