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Unformatted text preview: planning materiality that is allocated to an account or class of transactions. The purpose of allocating a portion of planning materiality is to establish a scope for the audit procedures for the individual account balance or class of transactions. -Step 3: Evaluate Audit Findings. This is completed near the end of the audit, when the auditor evaluates all the evidence that has been gathered. Based on the results of the audit procedures conducted, the auditor aggregates misstatements from each account or class of transactions....
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 470 taught by Professor Kwong during the Spring '11 term at Franklin.
- Spring '11