material misstatement

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:09AM in AAT student discussion
Hiya,<BR>Could anyone shed some light on what is meant by material misstatement?<BR>I have just completed the devolved for IAP.<BR>Any help would be fab<BR>Thanks guys

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    material misstatement

    Material misstatement is an error or omission that has a considerable effect on the financial statements. <BR><BR>That's what I put and I didn't have to correct it.

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