Mary is auditing the financial statements of Alpha Company? Alpha Company is considered to be a high risk audit for a number of reasons.  How will this "high risk" assessment impact the materiality that Mary establishes for this engagement (will materiality be higher or lower)?  ustify your answer (explain to me why materiality would be higher or lower based upon the assessed risk of Alpha Company, assuming that the Alpha Company audit is a high risk audit).?

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Answer For high risk audit the materiality should be lower Explanation Lets first comprehend why a ... View the full answer