Auditors request the client to book all known misstatements, even if the recording cost is very high so that there are no carryovers from year to year.

Question

Quizplus · Accepted Answer

Auditors typically request clients to correct material misstatements, but may allow immaterial misstatements to remain uncorrected if the cost of correction outweighs the benefits, as long as they do not affect the financial statements' overall accuracy.

Auditors Request the Client to Book All Known Misstatements, Even