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Audit I have a question about performance materiality If for example my accounts payable account had a misstatement of $300,000 and the performance materiality I

Audit

I have a question about performance materiality

If for example my accounts payable account had a misstatement of $300,000 and the performance materiality I set for the account was $305,000 does this mean that the misstatement is material or immaterial?

Also does the reasoning behind why the misstatement occurred play a role in determining if the misstatement is material?

thank you!

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