- 1 Marks
AAA – Nov 2012 – L3 – SA – Q14 – Regulatory Framework and Professional Standards
Determining criteria for immaterial information based on ISA 320.
Question
According to ISA 320, the auditor is expected to treat information as IMMATERIAL if:
A. Its omission could influence the economic decision of users based on the financial statement
B. Its misstatement could alter the decision of stakeholders based on the financial statements
C. Its omission is within the audit objective
D. Its misstatement will make an audit objective to be defeated
E. Its omission threatens the going concern of the organisation
Find Related Questions by Tags, levels, etc.
- Tags: Audit Standards, Financial Statements, Immaterial Information, ISA 320, Materiality
- Level: Level 3
- Topic: Regulatory Framework and Professional Standards
- Series: NOV 2012
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