Auditing Mcqs

Which of the following is correct in relation to materiality?

(A)  A matter is material only if it changes the audit report

(B)  A matter is material if the auditor and the directors both decide that further work needs to be done in the area under question

(C)  A matter is material only if it affects directors’ emoluments

(D)  A matter is material if its omission or misstatement would reasonably influence the decisions of an addressee of the auditors’ report

Submitted By :Ali Uppal

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