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darkfire12 darkfire12
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2 years ago
Audit standards require the auditor to consider materiality early in the audit. Which statement(s) regarding preliminary materiality is (are) true?
I.Preliminary materiality may change during the engagement.
II.Preliminary materiality is the maximum amount by which the auditor believes the financials could be misstated and still not affect the decisions of reasonable users.

▸ I only

▸ II only

▸ both I and II

▸ neither I nor II
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Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
Authors:
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Tram N.Tram N.
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2 years ago
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