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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.
Question: In each case below and having regard to your knowledge of Accounting Concepts, comment on and assess the validity of the accounting implications/practices to be adop
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theory
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