Audit procedures appear to concentrate on detecting overstatement of assets and understatement of liabilities-in other words, overstatement
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Audit procedures appear to concentrate on detecting overstatement of assets and understatement of liabilities-in other words, overstatement of shareholders' equity. Is an auditor not equally concerned with understatement of shareholders' equity? Explain.
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While audit procedures indeed focus on detecting overstatement of assets and understatement of liabilities auditors are equally concerned with the und...View the full answer
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Related Book For 
Auditing Concepts And Methods A Guide To Current Auditing Theory And Practice
ISBN: 9780070099999
5th Edition
Authors: Mcgraw-Hill
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