Statement that materiality is in the eye of the beholder

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Reference no: EM132238628

1. Distinguish between the legal concepts of actually foreseen third party users and reasonably foreseeable third party users. How does each concept establish a basis for an auditors’ legal liability to third parties? at least 300 words

2. Comment on the statement that materiality is in the eye of the beholder. How does this statement relate to the discussion in the chapter of how to gauge materiality in assessing financial statement restatements. at least 300 words

3. Critically discuss the relationship between the three major functional areas (Operations Management, Finance and Marketing) within any given organisation. What motivates the operations manager to maintain a sound interrelationship between these functional areas? Motivate your answer fully.

Reference no: EM132238628

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