You are the auditor of ZZZ Ltd. Likely misstatements amounted to $100,000. Planning materiality was set at $120,000. Misstatement arose due to management's refusal to allow the auditor to count the inventory at a plant in South America. What would be an appropriate range for performance materiality.

Answer rating: 100% (QA)

Likely misstatements The identified likely misstatements of 100000 suggest a higher risk of material ... View the full answer