How can the accounting concept of materiality be applied to the recognition and disclosure of contingent liabilities? Explore the factors that accountants should consider when determining the appropriate level of detail to include in financial statements regarding potential future obligations.

How can the accounting concept of materiality be applied to the recognition and disclosure of contingent liabilities? Explore the factors that accountants should consider when determining the appropriate level of detail to include in financial statements regarding potential future obligations.

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter17: Other Services Provided By Audit Firms

Section: Chapter Questions

Problem 57RSCQ

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