alleryStart learning →A small money misstatement may still be material because of what?
AAuditor mood
BClient size
CReport length
DIts nature
Answer & Solution
Correct answer: D. Its nature
Materiality has a qualitative aspect, so an omitted disclosure can be material despite a small amount.
Keep practising Audit Strategy, Planning and Programme
Browse all Audit Strategy, Planning and Programme questions for CA Inter, or explore more Auditing topics.
Related questions
In India, secretarial auditors are members of which institute?An external auditor, though paid by the company, should be regarded as what?An audit provides only what level of assurance that statements are free from error?Audit data analytics lets the auditor examine what?A third party's reply to the auditor about an assertion is which procedure?Watching an employee count products in a warehouse is which procedure?The higher the risk of material misstatement, the more evidence the auditor should do whatAppropriateness of audit evidence depends on relevance and what?