TCO C) According to PCAOB standards, when would a company be least likely to reevaluate established materiality levels or tolerable misstatements? Changes that occurred after the materiality levels were originally set are likely to affect investors perceptions about the companys financial statements. The client has stated that it will not be able to respond to the auditors request for evidence within the prescribed timeframe. Materiality levels and tolerable misstatement were originally based on estimated or preliminary financial statement amounts that differ significantly from actual amounts. There is a substantial likelihood that misstatements of amounts less than the materiality level established for the financial statements as a whole would influence the judgment of a reasonable investor.