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When allocating performance materiality,
blinkrb
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When allocating performance materiality,
When allocating performance materiality,
▸ it is easy to predict in advance which accounts are most likely to be misstated.
▸ only overstatements need to be considered.
▸ professional judgment is critical.
▸ the sum of all the performance materiality levels cannot exceed the preliminary judgment about materiality.
Textbook
Auditing and Assurance Services
Edition:
17
th
Authors:
Arens, Elder, Beasley, Hogan
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