Misstatement and NWC: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Mend link.)
 
imported>Doug Williamson
(Add link.)
 
Line 1: Line 1:
1.  ''Financial reporting - audit.''
Net Working Capital.
 
In financial reporting, misstatements are differences between amounts reported - or other disclosures - in financial statements, and the amounts or disclosures required by relevant accounting standards.
 
Misstatements may be a result of error or of fraud.
 
 
Types of misstatement include factual misstatements and judgmental misstatements.
 
Misstatements include omissions.
 
 
In cases of identifying material misstatements, auditors will be unable to give an unqualified audit report.
 
 
2. ''Law.''
 
Any false statement, not necessarily one made between two parties forming a contract together.




== See also ==
== See also ==
* [[Accounting standards]]
* [[Net working capital]]
* [[Audit]]
* [[Working capital]]
* [[Auditors’ report]]
* [[Contract]]
* [[Disclosure]]
* [[Factual misstatement]]
* [[Financial reporting]]
* [[Fraud]]
* [[Fraudulent misrepresentation]]
* [[Innocent misrepresentation]]
* [[Judgmental misstatement]]
* [[Law]]
* [[Material]]
* [[Misrepresentation]]
* [[Negligent misrepresentation]]
* [[Negligent misstatement]]
* [[Qualified audit report]]
* [[Unqualified audit report]]
* [[Window-dressing]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]

Revision as of 22:41, 5 August 2016

Net Working Capital.


See also