Fordham University Accounting Audit Case Study
Description
You have been asked to perform a substantive analytical procedure to obtain assurance regarding the reasonableness of the total rent revenue for LSS for the 20X8 fiscal year. Your audit team has determined that $1 million is the materiality threshold (i.e., tolerable misstatement) to be used for this substantive analytical procedure for this client. To assist you in completing your analytical procedure, two first-year staff members on your audit team compiled the following information for you:
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