PRAGUL DE SEMNIFICAȚIE ÎNTR-O MISIUNE DE REVIZUIRE A SITUAȚIILOR FINANCIARE ISTORICE
MATERIALITY IN A MISSION TO REVIEW THE HISTORICAL FINANCIAL STATEMENTS

Summary/Abstract: Accounting is a branch of the economy that is part of the social sciences. In this sense, it comes to support the society, aiming to offer the best services for the good development of society. Financial audit also is a part of this branch of social sciences, accompanying in various forms the field of accounting over time, with the initial aim of verifying the veracity of the work carried out by the persons involved in accounting, and then, in time, the purpose of the financial audit has changed, providing today to the participants in economic activities a high degree of confidence about the information provided by the financial statements. In the financial audit, auditors can carry out several types of missions, providing two types of insurance, either reasonable or limited, or even no type of insurance. In this case, a mission to review historical financial statements by an auditor may provide only limited assurance to users. The materiality calculated in this assignment provides a value through which it may reduce the risk that information in the financial statements will contain material misstatements.

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