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Other Fields Homework Help Accounting Topic started by: xiaily on Jul 18, 2022



Title: Which of the following is a correct statement regarding materiality?
Post by: xiaily on Jul 18, 2022
Which of the following is a correct statement regarding materiality?

▸ There are well-defined guidelines that enable auditors to determine if something is material.

▸ Misstatements must be compared with some benchmark before a decision can be made about the materiality level of the failure of a company to follow GAAP.

▸ Pervasiveness is not considered when comparing potential misstatements with a base or benchmark.

▸ To evaluate overall materiality, the auditor does not combine all unadjusted misstatements.


Title: Which of the following is a correct statement regarding materiality?
Post by: smiller94107 on Jul 18, 2022
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