According to ASS:1.) What should the auditor consider when determining whether an account should be...

Question

According to ASS:1.) What should the auditor consider when determining whether an account should be considered significant?2.) What qualitative factors might cause an account that is otherwise relatively small quantitatively to be considered significant?3.) What qualitative factors might cause an account that is greater than materiality to be considered not significant?

David · Accepted Answer

Solution-1
The auditor should consider the materiality of the planning when determine if the account will consider as the significant account. If the financial statement of the firm goes beyond the materiality of planning, then it considered as the high significant. If a financial statement account goes beyond the planning of materiality, then it is considered significant. If the account is higher goes over the planning materiality, the more it is considered to be significant.

According to ASS:1.) What should the auditor consider when determining whether an account should be considered significant?2.) What qualitative factors might cause an account that is otherwise...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment