3-21 you are the audit manager for ken-ron enterprises.

Project Description:

required:
a if you planned on using profit before tax as the benchmark to compute overall materiality
and performance materiality, how would you compute those amounts for 2013? prepare and
justify your calculations.
b determine overall materiality and performance materiality using either total assets or total
revenues as the benchmark. make the calculations by utilizing both 0.25 per cent and 2 per
cent, the endpoints of the range that your firm guidance provides.
c assume that during the course of the 2013 audit you discovered misstatements totalling €50
million (approximately 50 per cent of the 2013 profit before tax of €105 million). discuss
whether this amount of misstatement
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Price Type: Negotiable

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