misstate

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6662 to any portion of an underpayment attributable to a substantial valuation misstatement.
6662-5(g) provides that when an asset's true value or adjusted basis is zero, any misstatement is considered to be 400% or more of the correct amount and is automatically deemed to be a gross valuation misstatement, and Woods's and McCombs's misstatements of their partnership bases were thus gross valuation misstatements subject to .
Companies are strictly liable under Section 11 for their misstatements when issuing securities; overturning Basic would not change this.
We have adopted a new approach, which is we do not leave any misstatement or inaccuracy unanswered.
Though financial and nonfinancial misstatements are generally governed
An auditor must understand five components of internal control to adequately assess an organization's risk of material misstatement of the financial statements.
Our study is motivated by the recent instances of financial statement misstatements (e.
The assessment of control risk at 30 percentage because the control structure proved effective in prior years and few misstatements were detected with tests of control.
The goal of the third group, substantive procedures, is to directly detect material misstatements.
Directors and officers' (D & O) liability coverage needs to be analyzed in terms of potential exclusions and possible attempts by insurers to rescind for misstatements.
In evaluating audit findings, the auditor must include the effects of prior period misstatements not booked by the client due to immateriality, in addition to considering the qualitative aspects of the accumulated misstatements.
If the auditor believes that any potentially material misstatements identified during the audit are a result of fraud, the auditor should: attempt to do the following: obtain additional evidential matter to make a definitive decision about the issue; consider the implications for other aspects of the audit; discuss the matter with an appropriate level of management (at least one level above those involved, and with senior management and the audit committee); and suggest that the client consult with legal counsel (if appropriate).