The concept of materiality suggests that certain errors, Financial Accounting

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The concept of materiality suggests that certain errors

The concept of materiality suggests that certain errors, inaccuracies and/or descrepancies in financial statements, in some instances, are acceptable. Isn't the purpose of auditing to ensure that financial statements are 100% accurate and how do accountants decide what is material, and what is not?

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Financial Accounting: The concept of materiality suggests that certain errors

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