FINAL ASSESSMENT Which of the following is not an accurate statement regarding misstatements? a misstatement is a material error a misstatement can arise from error or fraud misstatements include those adjustments of amounts, classifications, presentation, or disclosures that are necessary for the financial statements to be presented fairly a difference between the amount of a reported financial statement item and the amount that is required for the item to be in accordance with the financial reporting framework is a misstatement .