The Concept of Materiality Would Be Least Important to an Auditor

question 39

Multiple Choice

The concept of materiality would be least important to an auditor when considering the:

• A) Decision whether to use positive or negative confirmations of accounts receivable.
• B) Adequacy of disclosure of a client's illegal act.
• C) Discovery of weaknesses in a client's internal control.
• D) Effects of a direct financial interest in the client upon the CPA's independence.

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Definitions:

Bile

A digestive fluid produced by the liver and stored in the gallbladder, aiding in the digestion and absorption of fats.

Chronic

Referring to a condition or disease that is persistent or long-lasting in its effects, often for a person's lifetime.

Scaly

Covered with scales or flaky skin, often indicating a skin condition.

Itching Rashes

Skin eruptions that are characterized by redness, itchiness, and sometimes swelling.