misstatement


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Synonyms for misstatement

Words related to misstatement

a statement that contains a mistake

References in periodicals archive ?
In rejecting this argument, Scalia quoted a concurring opinion in a Fifth Circuit decision, stating that, with the type of tax shelter at issue, "the basis misstatement and the transaction's lack of economic substance are inextricably intertwined, so attributing the tax underpayment only to the artificiality of the transaction and not to the basis overvaluation is making a false distinction" (slip op.
First, he argued that the economic substance determination did not result in a "valuation misstatement.
The Court rejected the argument, finding that in this case the economic substance determination and the basis misstatement were not "independent" of one another.
Speaking at the US Institute of Peace, Clinton said Washington has adopted a new approach through which it wants to clear all misstatements surrounding the aid bill.
qualitative standard, a financial misstatement under five percent can
The SEC specifically noted that auditors may fail to appropriately assess the risk of misstatement when balances do not change from year to year:
The control risk (CR) represents a misstatement that could be material, individually or aggregated, and not be prevented or detected by the entity's internal control.
First, the understanding aids in the assessment of the risks of material misstatement.
due professional care allows the auditor to obtain reasonable assurance that the financial statements are free of material misstatement, whether caused by error or fraud.
Nevertheless, the auditor who becomes aware of the existence of such information should consider it in identifying the risks of material misstatement arising from fraudulent financial reporting.
Audit standards state, "The auditor has a responsibility to plan and perform the audit to provide reasonable assurance about whether the financial statements are free from material misstatement, whether caused by error or fraud.
The investigation concerns violations of the Securities Act of 1933 (the "Securities Act") that occurred in connection with material misstatements in the Offering Documents related to the Note Offerings, and violations of the Securities Exchange Act of 1934 (the "Exchange Act") that occurred when the Company and certain of its officers and/or directors issued materially false and misleading statements or omitted to state material information during the Class Period.
In Basic, the Supreme Court accepted the fraud-on-the-market theory and held that in securities suits involving broadly traded stock, plaintiffs are presumed to have relied on the company's misstatements.
These errors would have resulted in misstatements in the BIF, SAIF, and FRF financial statements.