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Other Fields Homework Help Accounting Topic started by: Noar on Jul 24, 2022



Title: Most auditors assess the risk of material misstatement as high for related parties and related-party ...
Post by: Noar on Jul 24, 2022
Most auditors assess the risk of material misstatement as high for related parties and related-party transactions because

▸ of the unique classification of related-party transactions required on the balance sheet.

▸ of the lack of independence between the parties.

▸ of the unique classification of related-party transactions required on the income statement.

▸ it is required by generally accepted accounting principles.


Title: Most auditors assess the risk of material misstatement as high for related parties and related-party ...
Post by: melswhi1 on Jul 24, 2022
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