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Definitions and Terminology
A
B C
D E
F G
H I
J K
L M
N O
P Q
R S
T U
V W
X Y
Z Inconsequential(1) Potential misstatements equal to or greater than 20% of overall annual or interim financial statement materiality are presumed to be more than inconsequential. (2) Potential misstatements less than 20% of overall annual or interim financial statement materiality may be concluded to be more than inconsequential as a result of the consideration of qualitative factors, as required by AS 2. source: Framework for Evaluating Control Excepti:IIA:2004
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