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Auditors have difficulty applying the concept of materiality in practice because they often do not know who the users of the financial statements are or what economic decisions will be made.
Q15: Which general ledger account affects the most
Q18: An advantage of general statements (principles of
Q21: Materiality is affected by quantitative and _
Q28: The auditor's preliminary judgement about materiality is
Q53: Tests of controls are normally performed only
Q63: Auditors have a higher degree of responsibility
Q68: What is the purpose of an engagement
Q71: What reasoning would an auditor use when
Q73: Narratives, flowcharts, and internal control questionnaires are
Q85: Acceptable audit risk and planned detection risk