The Auditors Have Calculated the Total Uncorrected Identified Misstatements as $445,000;materiality

question 82

Multiple Choice

The auditors have calculated the total uncorrected identified misstatements as $445,000;materiality for the audit is $450,000.The client has declined to record the related journal entries.In this situation it is most likely that the auditors will:

• A)Conclude that the financial statements are not materially misstated.
• B)Issue a disclaimer of opinion.
• C)Perform additional audit procedures to reduce audit risk to an appropriately low level.
• D)Resign from the audit.

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Definitions:

Untreated Chlamydia

A condition where the bacterial infection Chlamydia trachomatis is left without medical treatment, which can lead to serious health complications.

Acute Arthritis

A condition characterized by the sudden onset of inflammation in one or more joints, causing pain and swelling.

Lymphogranuloma Venereum

A sexually transmitted infection caused by certain strains of Chlamydia trachomatis bacteria, characterized by enlarged and tender lymph nodes.