Solution-Discuss how the affect the risk of a material

Discuss how the affect the risk of a material misstatement

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Reference no: EM132757875

Problem 1: Consider each of the following items and describe how they affect the risk of a material misstatement:

1. Management has a poor reputation in the business community over the integrity of recent decisions.

2. Repairs and maintenance accounts were misstated in previous audits.

3. Management lacks experience.

4. The entity is facing a cash flow problem.

5. The inventory consists of a range of expensive jewellery

Reference no: EM132757875

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Discuss how the affect the risk of a material misstatement

Reference no: EM132757875

Reference no: EM132757875

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