Assume that Elizabeth Madden, public accountant, is using 5% of operating profit before tax, current assets or
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Assume that Elizabeth Madden, public accountant, is using 5% of operating profit before tax, current assets or current liabilities as her main guidelines for evaluating materiality. What qualitative factors should she also consider in deciding whether misstatements may be material?
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The following qualitative factors are likely to be considered in evaluating materi...View the full answer
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Related Book For
Auditing Assurance Services and Ethics in Australia an Integrated Approach
ISBN: 978-1442539365
9th edition
Authors: Alvin A Arens, Peter J. Best, Greg Shailer, Brenton Fiedler
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