2. Material fluctuations revealed by analytical procedures should be investigate

Question

2. Material fluctuations revealed by analytical procedures should be investigated to determine whether they are indicative of material __________ in the financial statements. 3. In estimating the total likely misstatement in the financial statements, the auditors should combine __________ misstatements, __________ misstatements, and __________ __________ misstatements. 4. If the auditors conclude that their estimate of the total likely misstatement in the financial statements is too high, they should request management to __________ the financial statements or issue a __________ or an __________ opinion. 5. An event occurring after the date of the balance sheet, but prior to completion of the audit, is called a __________ __________.

Explanation / Answer

2 Answer:- Misstatements

3 Answer:- Factual Misstatement, Judgemental Misstatement and Projected Misstatement

4 Answer:- Audit, Modified or an Disclaimer of opinion

5 Answer :- Subsequent Events

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