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When a client fails to follow GAAP, the audit report can be unmodified, qualified, or adverse ...
cjr4808
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When a client fails to follow GAAP, the audit report can be unmodified, qualified, or adverse ...
When a client fails to follow GAAP, the audit report can be unmodified, qualified, or adverse depending on the materiality. What factors affect materiality that an auditor should consider?
▸ the dollar amount in comparison to a base
▸ if the misstatement can be measured
▸ the nature of the item
▸ All of these are factors an auditor should consider regarding materiality.
Textbook
Auditing and Assurance Services
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17
th
Authors:
Arens, Elder, Beasley, Hogan
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All of these are factors an auditor should consider regarding materiality.
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