What are the three types of misstatements?

1. Factual misstatements—Misstatements for which there is no doubt. 2. Judgmental misstatements—Differences due to the judgments of management that the auditor considers unreasonable or to the selection of accounting policies that the auditor views as inappropriate. 3. Projected misstatements—The auditor's best estimate of misstatements in populations as suggested by audit sampling.