Government Auditing Standards recognize that because of public accountability over governmental activities the acceptable tolerable misstatement as compared to commercial businesses may be
A) equal.
B) lower.
C) higher.
D) indeterminable.

Question

Quizplus · Accepted Answer

Government Auditing Standards recognize that because of public accountability, governmental activities require a higher level of scrutiny and transparency than commercial businesses. Therefore, the acceptable tolerable misstatement may be lower for government entities.

Government Auditing Standards Recognize That Because of Public Accountability Over