Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN: 9781337619455
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: Cengage Learning
Question
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Chapter 7, Problem 7RQSC

a.

To determine

Introduction: It is about the materiality as used in Accounting and Auditing To define: The Materiality as used in Accounting and Auditing, especially focusing the difference that lies between FASB and the US Supreme Court definitions of Materiality

b.

To determine

Introduction: It is about the three major dimensions of materiality.

To define: The Three major dimensions of Materiality 1) Dollar Magnitude 2) Nature of Item in consideration 3) View of a particular user.

c.

To determine

Introduction: It is about the change in the Materiality aspect during the course of audit.

To explain: The implication of changes in the Materiality aspects during Audit and the impact on the audit work already done till now.

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