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Outline how the new lower materiality level will affect the

Your partner had originally set a preliminary materiality level for the audit Pacific-Chow Pty.Ltd $3000000. After your review of inherent risk your partner has lowered this materiality level to $1600000. Outline how the new lower materiality level will affect the nature and extent of audit procedures planned.

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Accounting Basics: Outline how the new lower materiality level will affect the

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