Multiple Choice
A manager of a very controversial program may have stolen only $200, but the controversy and public accountability aspects may make the 200 significant, where it would not be material private sector financial statement opinion audit. It means
A) Auditors should be aware that the concepts of materiality and significance take on different meanings in the public and private sector
B) During the planning and reporting processes, government auditors may need to consider qualitative factors such as the visibility of the program under audit, or the newness of the program or changes in its condition
C) Both of these
D) None of these
Correct Answer:
Verified
Correct Answer:
Verified
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