The Auditor Need Not Inform the Audit Committee About Adjustments

question 54

True/False

The auditor need not inform the audit committee about adjustments arising from the audit that were considered to be material.

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Definitions:

Nonnormative Events

Events that are not typical and do not follow the usual developmental life pattern.

Typical Time

Generally refers to the usual or average time taken for a specific event or activity to occur.

Atypical Time

An irregular or unusual time period or instance, often deviating from what is commonly expected or normal.

Cohort

Refers to a group of people banded together or treated as a group, often used in studies to examine common characteristics or outcomes within the group over time.