[sytan520]

@cr333 said:
A material but not pervasive misstatement means there is a misstatement which could affect the economic decisions of users of the financial statements, however the misstatement is confined to one area or balance of the FS and is not so large that it renders the FS useless – they can still be relied upon to some degree.

A material and pervasive misstatement is either so large it completely changes the meaning of the FS, or it is not confined to one area. This can include failure to make certain disclosures or preparing the accounts on the wrong basis (e.g. preparing them on a going concern basis when the entity is not a going concern).

Thanks for your explanation.. finally I understand..

[sytan520]

Good day. Can anyone explain material but not pervasive and pervasive for me? Thanks.

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