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ABC Co materiality level is $100000
Below is the effects of unadjusted misstatements:
1) revenue will be increased by $150000 (above materiality)
2) expenses will be increased by $120000 (above materiality)Net effect to p&l is profit increased by $30000 (below materiality)
if the above misstatements remain unadjusted, would it affect the auditor’s opinion?
Thanks
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