If You Are a Professional Accountant Who Is Considering Reporting

Multiple Choice

If you are a professional accountant who is considering reporting noncompliance as contemplated under the NOCLAR standards, you would decide if the matter was significant enough to require reporting if it:

A) was larger than the company's materiality standards for financial disclosure.
B) would have increased bonuses.
C) was self-correcting in the next quarter year and resulted in no distortion.
D) understated taxes payable.
E) avoided the exercise of legal covenants from lenders.