Early on in any audit the term materiality must be defined


Question 1

Early on in any audit, the term "materiality" must be defined for that specific audit client. How is materiality determined and how that determination is used to arrive at "Tolerable Misstatement"?

Question 2

So far in your Seminar courses, you have considered how communication, critical thinking, and information literacy skills can provide an advantage to you in the job application and interview process, and can help make you a better professional in your future career field.

As we look ahead to the final Seminar course, our focus shifts to diversity awareness. Share your thoughts about the following questions regarding this very important skill: What does diversity awareness mean to you? How does someone demonstrate a high level of awareness in your career field? Why do you think it is so critical for employees in your future profession?

Question 3

This is a three-part discussion activity.

1. Post your comments on the following questions:

o Should we remove all barriers to immigration into the United States? What would be the outcome?

o If we could let in an extra hundred thousand immigrants every year, should we favor certain immigrants over others? Why?

2. After posting your responses to the above questions, read the article at the web site indicated below:
Impact of Immigration on a Different America (https://www.cis.org/articles/1999/sac2-2-99.html)

3. Make another post regarding your previous views. This post should be a thread or response to your original post. In your response, address the following:

o Have your views changed?

o Do you agree or disagree with the article?

o Is there a relationship between immigration and U.S. labor productivity? Why?

Question 4

Revisit a musical piece that you have not listened to in at least 5 years. Explain how this piece "sounds" different to you now compared to when you first heard it.
Remember to share the:

• Title of the song or musical piece

• Artist or composer

• Year the song or piece was made

• Genre of music the piece falls under

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Accounting Basics: Early on in any audit the term materiality must be defined
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