What effect does the acceptable level of audit risk have on the materiality threshold? For example, when
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What effect does the acceptable level of audit risk have on the materiality threshold? For example, when auditing the inventory of a well-respected company that has never been subjected to a financial statement audit, would you set the materiality threshold any lower than if this was a repeat engagement? Why?
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Related Book For 
Auditing Assurance And Risk
ISBN: 9780324313185
3rd Edition
Authors: W. Robert Knechel, Steve Salterio, Brian Ballou
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