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 (MindTap Course List)
11th Edition
ISBN:9781337619455
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, Assessing, And Responding To The Risk Of Material Misstatement
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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
Transcribed Image Text: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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