About this document
Objectives of Financial Statement Audits by Lavneesh Shibduth is a document available to read on EtoBox.
The objective of a financial statement audit is for the auditor to express an opinion on whether the statements are prepared in conformity with accepted accounting standards. Materiality is a matter of professional judgment and refers to information that could influence economic decisions if omitted or misstated. While the FASB has not provided quantitative guidelines, common practice uses percentages of items like pre-tax income, total assets, equity, and revenues or blended methods to determine materialit
- Author
- Lavneesh Shibduth
- Language
- EN