Materiality is a key factor guiding the substantive procedures. which one is TRUE? Materiality level is subject to management's professional judgement No answer text provided. Performance materiality is a concept that indicates the risk level of the financial statements as a whole Performance materiality is used to set the tolerable misstatement amount in a specific account All of them are not true

Materiality is a key factor guiding the substantive procedures. which one is TRUE? Materiality level is subject to management's professional judgement No answer text provided. Performance materiality is a concept that indicates the risk level of the financial statements as a whole Performance materiality is used to set the tolerable misstatement amount in a specific account All of them are not true

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

Chapter7: Planning The Audit: Identifying, And Responding To The Risk Of Material Misstatement

Section: Chapter Questions

Problem 6TFQ

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Question

H12.

Materiality is a key factor guiding the substantive procedures. which one is TRUE?
Materiality level is subject to management's professional judgement
No answer text provided.
Performance materiality is a concept that indicates the risk level of the financial statements as a whole
Performance materiality is used to set the tolerable misstatement amount in a specific account
All of them are not true

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