Based on new information gained during an audit of a nonissuer, an auditor determines that it is necessary to modify materiality for the financial statements as a whole. In this circumstance, which of the following statements is accurate? A. The auditor is required to reperform audit procedures already completed on the audit using the revised materiality.
B. The auditor should consider disclaiming an opinion due to a scope limitation.
C. The revision of materiality at the financial statement level will not affect the planned nature and timing of audit procedures, only the extent of those procedures.
D. Materiality levels for particular classes of transactions, account balances, or disclosures might also need to be revised.

Answers

Answer 1

Answer:

Answer:

The correct answer is D. Materiality levels for particular classes of transactions, account balances, or disclosures might also need to be revised.

Explanation:

The need for less materiality for significant account / disclosure may occur infrequently; however, it may be appropriate in certain circumstances. The materiality of performance related to a lower materiality for the significant account / disclosure is set to reduce to an adequately low level the probability that the sum of the errors not corrected and not detected in that significant account or particular disclosure exceeds the materiality Minor account / significant disclosure.

We must document the minor amount of the materiality of the significant account / disclosure, if applicable, for each specific significant account or disclosure and the factors considered in its determination.

Materiality Modification

The materiality for the financial statements taken together (and, if applicable, the lower materiality for the significant account / disclosure) may be modified as a result of:

A change in circumstances that occurred during the audit. New information, or
A change in our understanding of the entity and its operations as a result of performing additional audit procedures.

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A sound savings program and adequate insurance protection form the foundation of financial security. True or false

Answers

Answer:

True

Explanation:

Financial security is the satisfaction that one has sufficient money to meet their daily expenses, cover for emergencies, and work towards meeting their financial goals. Achieving financial security is a long-term goal for many individuals and organizations. Meeting this objective requires following certain principles.

A savings plan and insurance are some of the foundations for achieving financial security. Saving helps one attain financial goals, while insurance is essential in case of emergencies. Having a personal financial plan, with or without a personal finance manager, is another vital element in achieving financial security.

Which one of the following items should be included in a personal contract a. A sample contract from another person b. The stage of change when you finish c. The time of day you begin your plan d. The opinion of related specialists and experts

Answers

Option D regarding the opinion of third parties would not form part of an initial contract. There is no need for outside opinions on a personal contract, as by very definition a personal contract is something that you fill out independently.

in which way can a business contribute time and effort to advance the wellbeing of others by improving the general quality of life in a business context?

Answers

The right answer for the question that is being asked and shown above is that: "*making ethically correct business decisions"

these are the following choices:
*improving the general quality of life
*refraining from engaging in harmful practices
*making ethically correct business decisions
*providing support to employees

What are depository and non depository financial institutions? How do they differ?

Answers

Depository institutions---is a financial institution (such as a savings bank, commercial bank, savings and loan association, or credit union) that is legally allowed to accept monetary deposits from consumers.It contribute to the economy by lending much of the money saved by depositors.financial non depository institutions are financial intermediaries that do not accept deposits but do pool the payments of many people in the form of premiums or contributions and either invest it or provide credit to others. Hence, nondepository institutions form an important part of the economy. These institutions receive the public's money because they offer other services than just the payment of interest. They can spread the financial risk of individuals over a large group, or provide investment services for greater returns or for a future income.Nondepository institutions include insurance companies, pension funds, securities firms, government-sponsored enterprises, and finance companies. There are also smaller nondepository institutions, such as pawnshops and venture capital firms, but they constitute a much smaller portion of sources of funds for the economyPlz rate me best answer I'm trying to get a few of thoughts so iv Ben trying hard to answer very descriptive I am # 2 person yesterday to answer the most questions yesterday

Answer: A. Depository institutions earn money from what customers put into the institution.

Explanation:

Took a quiz. Good luck :)

That afternoon, you meet with the owners privately to discuss the data you received. Which of the factors analyzed do you think will most affect the success or failure of the coffee shops?

Answers

Answer:

From the information from the remaining part of the question. The factor that would affect the success or failure of Caffè Gustoso is the Cultural factor.

Explanation:

Caffè Gustoso an Italian word meaning "Tasty coffee". This tells us that the firm is in the food and beverage industry.

Each of the countries mentioned are found in different continents having diverse cultures.

Key to their success is to know the culture of these countries as regards to coffee.

What savings account generally pays the least amount of interest of all savings options?account

Answers

Answer:

Regular savings accounts

Explanation:

Regular savings accounts are also called deposit savings accounts. They are the easiest way to save money in a bank or credit union and receive interest. These types of accounts require a small deposit to open, and the minimum balance is also low. One can avoid monthly charges by maintaining the minimum balance at all times.

The deposit/regular savings accounts are very liquid. Most banks will not have restrictions on the number of deposits and withdrawals per period, say a month. Due to this feature, these accounts earn the lowest interest compared to the other savings accounts. Deposit/ regular accounts are also referred to as transactional savings accounts.

The other types of savings accounts include Money market accounts and Certificates of deposit accounts.

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