The Definition of Materiality Indicates That Both the Users and the Auditors

question 84

True/False

The definition of materiality indicates that both the users and the auditors of financial statements are
assumed to have knowledge of the likely preparers of the statements.

---

Definitions:

Medication

Substances used in diagnosing, treating, or preventing disease and improving health in humans or animals.

Therapist

A professional trained to treat mental, emotional, behavioral, and some physical issues, facilitating the well-being of their clients.

Deinstitutionalization

The policy or process of releasing individuals with mental illness from psychiatric hospitals and transferring them to community-based settings for treatment.

Stigma

A mark of disgrace associated with a particular circumstance, quality, or person, often leading to discrimination.