How will the conduct of an audit of a medium-sized company be affected by the company’s being a small part of a large conglomerate as compared with it being a separate entity?
ASSIGNMENT Assume that Xinran Wang, CPA, is using 5 percent of net income before taxes, current assets, or current liabilities as her major guideline for evaluating materiality. What qualitative factors should she also consider in deciding whether misstatements may be material? How will the conduct of an audit of a medium-sized company be affected by […]