INCORRECT ACCEPTANCE Definition

Bookmark and Share

INCORRECT ACCEPTANCE, in accounting, is the risk the sample supports the conclusion that the recorded balance is not materially misstated when it is materially misstated.

Learn new Accounting Terms

INTRODUCTORY PARAGRAPH, in an auditor's report, is the first paragraph of the auditor's standard report which identifies the financial statements audited and states the financial statements are the responsibility of management and that the auditor's responsibility is to express an opinion on the financial statements based on the audit.

FASB see FINANCIAL ACCOUNTING STANDARDS BOARD.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.