Auditing: A Risk Based-Approach to Conducting a Quality Audit
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: South-Western College Pub
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Chapter 8, Problem 9TFQ
To determine

Introduction:

A misstatement is a difference between actual financial data and actual financial reporting data expected for a fair presentation as per the accounting rules.

Factual misstatements are the misstatements for which the auditor has no doubt. For example, there is a breach of an IFRS requirement. It means that if a required disclosure is missing, the financial statements are considered incorrect. An example of such non-disclosure includes EPS of a listed company.

To choose: Whether the statement is true or false.

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