Qualitative factors are applicable to materiality levels for particular classes of transactions, account balances or disclosures.The auditor considers the nature and other related matters of the items that might give risk to the risk of material misstatement such as:
A)the circumstances of the entity.
B)the applicable financial reporting framework.
C)qualitative disclosures that are important to users of the financial report because of the nature of the entity.
D)all of the above.

Question

Quizplus · Accepted Answer

All the options listed are qualitative factors that auditors consider when assessing materiality levels for transactions, account balances, or disclosures.

Qualitative Factors Are Applicable to Materiality Levels for Particular Classes