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Assurance > AU 18 - Evaluation of Misstatements > Flashcards

AU 18 - Evaluation of Misstatements Flashcards

1
Q

3 types of misstatements resulting from error

A

Factual
Judgmental - inappropriate estimates
Projected - best estimates by auditor through using sampling

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2
Q

How are errors summarized?

A

If not corrected, in a schedule of identified misstatements.

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3
Q

How is materiality affected?

A

May need to be revised, based upon new errors

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Assurance (10 decks)

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