Hi in audit reporting, seldom question asks us to get the aggregate amount of misstatement.
i know we should get the individual effect on audit reporting or audit opinion however how do we know whether we should get the aggregate amount ??
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aggregate (audit reporting)
7y ago#1As you say the audit opinion reports on individual matters - not an aggregate.
An answer may make passing reference an aggregate - e.g. if a matter you have been asked to consider is not individually material, adjusting for it would reduce the aggregate of the otherwise uncorrected misstatements. Specimen Q2(b) is about uncorrected misstatements - so consideration of aggregate in (ii) is worth a mark - but you wouldn't lose a mark for not considering it.
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