The accumulation of all potential misstatements in a place where the audit team can assess the materiality of misstatements is often based on posting materiality.

Question

Quizplus · Accepted Answer

The accumulation of potential misstatements in a place where the audit team can assess their materiality is called the audit documentation. The materiality of misstatements is often based on the posting materiality, which is the amount below which misstatements may be considered immaterial. Therefore, the statement is true.

The Accumulation of All Potential Misstatements in a Place Where