Some countries, such as the United Kingdom, require that the auditors report include a statement...
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Accounting
Some countries, such as the United Kingdom, require that the auditors report include a statement of materiality level and risk of material misstatement. Some accountants suggest that the audit risk that the auditor used in conducting the audit should also be disclosed.
- The proponents of such disclosure believe that the information would be useful to users of the financial statements being reported. Explain fully why you think they have this view.
- Some accountants oppose such disclosure. Explain why you think they are not in favor of it.
- What is your position on the issue?
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