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greyfrost greyfrost
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A year ago
When reviewing the summary of misstatements found in the audit,

▸ an adjusting journal entry must be made by the auditor for all material misstatements.

▸ auditors must combine individually immaterial misstatements to evaluate whether the combined amount is material.

▸ the auditor is not required to consider the impact on the current financial statements of misstatements in the prior year that were not corrected.

▸ auditors only need to consider the misstatements that impact the income statement.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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dcmc92dcmc92
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A year ago
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greyfrost Author
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A year ago
Smart ... Thanks!
linlinlin
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Yesterday
Just got PERFECT on my quiz
nicolepope23
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2 hours ago
Thank you, thank you, thank you!
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