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In most — 37 of the 60 audits reviewed in 2012 — the auditors failed to do enough work to assess the "risk of material misstatement due to fraud," the board reported.
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After all, its letter did make clear that management was responsible for the internal controls needed to assure the statements are "free from material misstatement, whether due to fraud or error".
In his prosecutor days, an appeals court said there had been "misstatements of important facts" due to his prosecutorial zeal.
"In 13 of the 23 audits," the board reported, auditors "did not perform sufficient procedures to identify, assess and respond to the risks of material misstatement of the financial statements due to fraud".
My personal favorite is this letter from Mr. Loeb to the chief executive of Star Gas Partners: "It seems that Star Gas can only serve as your personal 'honey pot' from which to extract salary for yourself and family members, fees for your cronies and to insulate you from the numerous lawsuits that you personally face due to your prior alleged fabrications, misstatements and broken promises.
A miscalculation of pressure values due to inaccurate unit conversion was the source of the misstatement.
In an interview this week, Mr. Albertson of the health department theorized that misstatements about the number of homeless who got help could be due to the "fog of war," recalling that the final days of the terminal evacuation were frenetic.
i thought due to skill.
Due to the special and narrow underground field of the coal mine, the electromagnetic interference can cause a series of misstatements and false positives on the monitoring system, which will severely hamper the safe production of coal industry.
Due to disagreements".
Stanley Works Raises Guidance Due To Bermuda Move.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com