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[CPA] AUD: Audit Materiality: A Risk-Based Approach to Audit Planning and Evaluation
Hey everyone, welcome to VoraPrep Audio. I want you to think about this for a second. An audit team is looking at a tech startup. They set their materiality at a million dollars. Pretty high. During the audit, they find a fifty-thousand-dollar misstatement in revenue. It's tiny compared to that mill…
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