1. The auditor’s responsibility: Material versus immaterial misstatement



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Chapter: 6

1. The auditor’s responsibility:

Material versus immaterial misstatement: Misstatement is known as if the combined uncorrected and fraud which is influenced the decision-making process. Though it’s difficult to measure materiality, but the auditors are measure those evidence for their satisfaction. It will also costly for auditor if the fraud and uncorrected things will be changed or influenced the responsible person who are making decision. So, auditors’ responsibility is finding all immaterial errors and fraud.


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