1. According to Financial Accounting Standards Board (FASB), information that is omitted or misstated could influence decisions that users make on the basis of the financial information of a specific reporting entity; in such a case, information is Choose the answer from the menu in accordance to the question statement

>method

>material

2. The Internal Revenue Service (IRS) may conduct an audit of an individual or a company to determine if tax laws have been followed and the correct amount of tax paid. Thus an income tax audit is the best example of a/an Choose the answer from the menu in accordance to the question statement

>compliance audit

>internal audit