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What is the Tolerable error
In addition to looking at material differences individually the auditor must list all the differences (material or not) and consider in total whether they are material (list of uncorrected differences) or not. Tolerable error (TE) is maximum error in the population that auditors are willing to accept and still determine that audit objective has been achieved.
You have been to carry out the following work: To provide a financial analysis and interpretation of one London stock Exchange registered company. The senior Partner has
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Eurocurrency A currency on deposit outside its country of source. Such deposits are well known as external currencies, international currencies or xenocurrencies.
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