Misstatements detected during the audit that were initially deemed to be immaterial need not be summarized to determine their aggregate effects.

Name: Misstatements detected during the audit that were initially deemed to be immaterial need not be summarized to determine their aggregate effects.
Brand: Quizplus
Rating: 4.9 (43 reviews)

Question

Quizplus · Accepted Answer

Misstatements, even those initially deemed immaterial, must be aggregated to determine their potential cumulative impact on the financial statements as a whole.

Misstatements Detected During the Audit That Were Initially Deemed to Be