Smith & Associates are the auditors of Fleur Corp. For the year 2020, Smith set the overall

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Smith & Associates are the auditors of Fleur Corp. For the year 2020, Smith set the overall materiality of $1,500,000, and a tolerable misstatement of $750,000. During the year, the identified the following misstatements:

Inventory: 500,000

Accounts Receivables: 600,000

Accounts Payable: 650,000

What should the auditor do?

Posted Date: May 13, 2024 02:45 AM

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Smith & Associates are the auditors of Fleur Corp. For the year 2020, Smith set the overall

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The auditors role is to assess whether the financial statements of Fleur Corp are free from mat... View the full answer

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