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Quantitatively small misstatement qualitatively material

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Reference no: EM13747795

What do you think the SEC means by this? What factors might make a quantitatively small misstatement qualitatively material?

How would you, as an auditor, develop procedures to build in a qualitative aspect of review and an anticipation of risk?

What background information about a company might be useful to the auditor when planning the audit to account for both quantitative and qualitative issues? Why?

Reference no: EM13747795

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