The probability that either an error or fraud will result in a material misstatement is ______.

1 answer:

4 0

The probability that either an error or fraud will result in a material misstatement is risk of material misstatement and inherent risk

<h3>What is material misstatement?</h3>

A major misrepresentation is information in the financial statements that is sufficiently false to have an effect on the financial choices of those who rely on it.

Some errors are material despite not being noteworthy in terms of magnitude. A loan made to a director of a corporation, for instance, is material because those who use financial statements will value the information for making decisions. Both fraud and error are the causes of misstatements.

A misrepresentation happens when anything in the financial accounts is not handled correctly, which means that the relevant financial reporting system, notably IFRS, has not been properly implemented.

To learn more about material misstatement visit:

brainly.com/question/20910754

#SPJ4

You might be interested in

What percentage of high school senior football players will eventually be drafted by an nfl team?.

alexgriva [62]

Answer:0.08%

Explanation: Eight in 10,000, or approximately 0.08 percent of high school senior boys playing interscholastic football will eventually be drafted by an NFL team.

8 0

2 years ago

Communication based on a speaker's body and voice, rather than on the use of words, is called: implicit communication non-verbal

siniylev [52]

Non-verbal communication is the correct answer.

Non-verbal communication is a type of communication that does NOT involve words. This type of communication is done through gestures, facial expressions, the tone of voice, the posture and distance between two people who are communicating.

7 0

3 years ago

Read 2 more answers

Janis has volunteered to participate in a psychology experiment. when she arrives, a lab assistant standing on the other side of

Pavel [41]

The phenomenon is known specifically as the change blindness. This is a phenomenon where in the observer has fail to notice the differences that has been laid out to him or her when a certain visual stimulus is triggered or the observer is exposed to.

7 0

3 years ago

martin was born in san diego, california. he joined the navy and was sent to italy. he married phoebe, an american attending col

Lana71 [14]

Martin was born in san Diego, California. he joined the navy and was sent to Italy. He married Phoebe, an American attending college in Italy. martin and phoebe had a daughter. when martin left the navy, he and his family returned to California to live. "she was allowed to enter the country because she was a citizen." is what happens to Martin's daughter

This is further explained below.

<h3>What is citizenship?</h3>

Generally, Citizenship is a connection that exists here between a person and a state; in this relationship, the individual owes loyalty to the state, and in return, the individual is due to the security of the state.

In conclusion, Martin was born in the city of San Diego in the state of California. He enlisted in the navy and was eventually stationed in Italy.

He wed Phoebe, a native of the United States who was studying in Italy at the time. martin and phoebe were successful in having a child.

After Martin finished his time in the military, he and his family moved back to their native California. Due to the fact that she was a citizen, she was granted permission to enter the nation. concerns Martin's daughter and what becomes of her.