[The following footnote was effective for audits of financial statements for periods beginning on or after January 1, 1989. It was deleted, effective for audits of fiscal years beginning on or after December 15, 2010. See PCAOB Release No. 2010-004.

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fn 2 See section 312, Audit Risk and Materiality in Conducting an Audit, paragraphs .24 through .26.