Acc 450 the auditors should confirm accounts receivable unless the auditors’ assessment of the risk of material misstatement is low:________

Question

04-08-2022
Social Studies

contestada

Acc 450 the auditors should confirm accounts receivable unless the auditors’ assessment of the risk of material misstatement is low:________

Respuesta :

Otras preguntas

The Iran-Contra Affair occurred during the Reagan administration. a. True b. False

What is the order, from narrowest to widest graph, of the quadratic functions f (x) = -10x2, f (x) = 2x2, and f (x) = 0.5x2?

one check that the executive branch has over the legislative branch

Which of these statements best describes transportation within cities in the early 1800s?

2. Which macromolecules were present in the milk? Explain each Phase in detail.

which expression does not belong with the other three

Taxi service x charges $8 as the base fare and $2.50 per mile. Taxi service y charges $4.50 per mile with no base fare. After how many miles is the cost of the

Label the place value 12,354.897

Which relation is a function? A. (–25, 16), (0, 16), (–25, 18) B. (19, 11), (34, 12), (34, 10) C. (35, 31), (24, 15), (12, 0) D. (34, 30), (18, 17)

What did the Truman administration hope to prevent with the European Recovery Program? a. a return to the conditions of the 1920s, which led to the Great Depres

tutorconsortium203 tutorconsortium203 · Answer 1 · 2022-08-09T19:16:12+02:00

Acc 450 the auditors should confirm accounts receivable unless the auditors’ assessment of the risk of material misstatement is low "and relying on confirmations would be futile if accounts receivable were relevant."

What is material misstatement?

A major misrepresentation is material in the financial information that is sufficiently false to have an effect on someone who relies on those statements in making financial decisions.

Some characteristics of material misstatement are-

For instance, a major misstatement of revenue may prompt a decision to purchase stock in a company, which could result in losses for the investor if indeed the misstatement is quickly corrected and the stock price drops.
When management fails to correct a substantial misstatement that is discovered by an auditor, the auditor should assess the impact of the error mostly on financial statements & determine whether to revise the audit opinion.
Shareholders in corporations that must comply with Securities and Exchange Act in 1934, newly amended, reporting obligations are exempt from this regulation.

To know more about the material misstatement, here

https://brainly.com/question/13450696

#SPJ4