Access AICPA Auditing Standard AU-C 450, Evaluation of Misstatements Identified during the Audit (www.aicpa.org), to answer the
Question:
a. Describe the three types of misstatements that can be identified by the auditor. What factors may suggest that the misstatement is not an isolated occurrence?
b. What factors should the auditor consider in determining whether uncorrected misstatements are material, either individually or in the aggregate?
c. What documentation is required by AU-C 450?
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a AUC 450 identifies three types of misstatements 1 Factual misstatements are misstatements about wh...View the full answer
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Related Book For 
Auditing and Assurance services an integrated approach
ISBN: 978-0134065823
16th edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
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