imported>Doug Williamson |
imported>Doug Williamson |
| Line 1: |
Line 1: |
| 1. ''Financial reporting - audit.''
| | A parent company (investing company) controls a subsidiary. |
| | |
| 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]] | | * [[Group]] |
| * [[Audit]] | | * [[Group accounts]] |
| * [[Auditors’ report]] | | * [[Letter of comfort]] |
| * [[Contract]] | | * [[Parent currency]] |
| * [[Disclosure]] | | * [[Simple investment accounting]] |
| * [[Factual misstatement]] | | * [[Sister company]] |
| * [[Financial reporting]] | | * [[Subsidiary]] |
| * [[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:Accounting,_tax_and_regulation]] |
| [[Category:The_business_context]] | | [[Category:The_business_context]] |
