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 01. What is meant by Materiality and performance materiality:   Materiality: -  The information is material if its omission or misstatement could influence the economic decisions of users taken on the Basis of the financial information. Materiality depends on the size and Nature of the item, judged in the particular circumstances of its misstatement. Disclosures:- Materiality should be considered by the auditor when determining the nature, timing and extent of audit procedures, and evaluating the effects of misstatements. Performance materiality:- Performance materiality is an amount less than the level of overall materiality, and is reduced in order to allow for the risk that there may be several smaller errors or omissions that have not been identified by the auditor. These smaller items could be material when aggregated, so the performance materiality level is set to accommodate them. Thus, performance materiality reduces the probability that the aggregate amount of ...

  Audit risk  Audit risk is ‘the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated. Kinds of Audit risks There are three types of Audits risks are describes bellow 01. Inherent risk,  02. Control risk and 03. Detection risk. 01.Detection risks This means that the auditor fails to detect the misstatements and errors in the company’s financial statement, and as a result, they issue a wrong opinion on those statements. As an instance, the auditors failed to determine the continual misreporting of the company’s financial statements. Sources of detection risks: The auditors did not choose the correct sample size (Also see Introduction to Audit Sampling) The auditors did not understand the complexity and the business conducted by the company The auditors did not engage and communicate well with the company’s management. The auditors did not plan the audit...

  ইংরেজি ৪২১ টি কনফিউজিং শব্দ শিখুন।       10 December 2021 1 Ad (বিজ্ঞাপন) 2 Add (যোগ করা) 3 Advice (উপদেশ) 4 Advise (উপদেশ দেওয়া) 5 Adapt (খাপ খাওয়ানো / মানিয়ে নেওয়া) 6 Adept (পারদর্শী / সুদক্ষ) 7 Adopt (অবলম্বন করা / পোষ্যগ্রহণ করা) 8 Amend (সংশোধন করা / সংস্কার করা) 9 Emend (লিখিত বা ছাপা অক্ষরের ভুল সংশোধন করা) 10 Appraise (যাচাই করা / মূল্য নির্ধারণ করা) 11 Apprise (জ্ঞাত করা / অবগত করান) 12 Accept (গ্রহন করা) 13 Except (ব্যতীত) 14 Aspect (দৃষ্টিভঙ্গি) 15 Expect (প্রত্যাশা করা) 16 Access (প্রবেশের অধিকার) 17 Excess (অতিরিক্ত) 18 Accede (রাজী হওয়া) 19 Exceed (অতিক্রম করা) 20 Ascent (আরহণ) 21 Assent (সম্মতি) 22 Assay (চেষ্টা করা / পরীক্ষা করা) 23 Essay (রচনা / প্রবন্ধ ) 24 Affect (প্রভাব্ ফেলা) 25 Effect (ফল / পরিণতি) 26 Accomplice (দূস্কর্মে সহযোগী / দোসর) 27 Accomplish (সম্পাদন করা / সমাধান করা ) 28 Angle (কোণ / দৃষ্টি কোণ) 29 Angel (ফেরেস্তা / দেবদূত) 30 Allusion (উল্লেখ / ইঙ্গিত) 31 Illusion (বিভ্রম / ঘোর) 32 Along (বরাবর) 33 Alone (একাকী) 34 Altar ...

ANS Negative assurance is a determination by an auditor that a particular set of facts is believed to be accurate since no contrary evidence has been found to dispute them. Negative assurance is normally used by auditors in situations where it is not possible to positively confirm the accuracy of financial reports. The goal of negative assurance is to confirm that no evidence of fraud has been found or that any legal accounting practices were found to be violated.   Learn More click here