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npeelman npeelman
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6 years ago
An important part of evaluating whether the financial statements are fairly stated is summarizing the misstatements uncovered in the audit. Whenever the auditor uncovers misstatements that are in themselves material,
A) entries should be proposed to the client to correct the statements.
B) no entries need be made but footnote disclosure is required.
C) it is necessary to combine individually immaterial misstatements with the material misstatements and make entries to correct the statements.
D) it is necessary to combine individually immaterial misstatements with the material misstatements and make full disclosure in the footnotes.
Textbook 
Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Auditing: The Art and Science of Assurance Engagements, Canadian Edition


Edition: 12th
Authors:
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victroxvictrox
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npeelman Author
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5 years ago
Thanks DUDE
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