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In two or three paragraphs, explain how materiality may differ from company to company in regards to an audit. Would materiality have the same impact

In two or three paragraphs, explain how materiality may differ from company to company in regards to an audit. Would materiality have the same impact on a large public company, versus a small, privately-held one? How would risk factor into your answer

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Materiality in the context of an audit refers to the significance of transactions balances or discrepancies reported in financial statements Essential... blur-text-image

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