If Materiality Judgments Change During the Audit Opinion Formulation Process

question 41

Multiple Choice

If materiality judgments change during the audit opinion formulation process, what happens to previous audit decisions that were based on the evidence obtained using the initial material setting?

• A) They need to be reassessed.
• B) They need to be noted in the footnotes.
• C) No action is required.
• D) None of the above.

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Definitions:

Recessive Gene

A gene that is not expressed in the phenotype unless two copies are present, one from each parent.

Expressed

Expressed refers to the outward manifestation or display of traits, emotions, or genetically determined characteristics, visible through behavior, physical attributes, or verbal communication.

Gene Carrier

An individual possessing one copy of a mutated gene that can lead to a genetic disorder if passed to offspring, typically not affected themselves.

Human Organism

A living individual belonging to the species Homo sapiens, characterized by advanced cognitive abilities and complex social behaviors.