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Author Question: Which of the following are major difficulties auditors face when allocating materiality to balance ... (Read 55 times)

najmarocks25

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  • Posts: 149
on: Aug 21, 2022

Question 1

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.

Question 2

Which of the following are major difficulties auditors face when allocating materiality to balance sheet accounts?
◦
Certain accounts contain 
more misstatements 
than others.		Only overstatements
need be considered.		Audit costs can
affect allocation.
YesNo Yes

◦
Certain accounts contain 
more misstatements 
than others.		Only overstatements
need be considered.		Audit costs can
affect allocation.
YesYesNo

◦
Certain accounts contain 
more misstatements 
than others.		Only overstatements
need be considered.		Audit costs can
affect allocation.
YesYes Yes

◦

Certain accounts contain 
more misstatements 
than others.		Only overstatements
need be considered.		Audit costs can
affect allocation.
NoYesNo
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by najmarocks25 on Aug 21, 2022

xinyiff

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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najmarocks25

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Reply 2 on: Aug 21, 2022
:D TYSM

dyrone

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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