Calculate materiality for the client, assuming that it is a profit-oriented company and moderate audit risk. Explain
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Calculate materiality for the client, assuming that it is a profit-oriented company and moderate audit risk. Explain why you chose the base you did and why you chose the percentage. You may use guidelines from the textbook or the case study and should refer to the specific guidelines you used in your answer.
Current Year | Prior Year | |
Sales/revenue (net) | 30,381,954 | 26,290,518 |
Expenses | 7,263,786 | 6,519,376 |
Gross Margin | 8,378,660 | 7,280,887 |
Pre-tax Income | 1,114,873 | 761,510 |
Current Assets | 18,993,546 | 16,966,273 |
Current Liabilities | 8,221,991 | 6,810,164 |
Total Assets | 19,679,541 | 17,670,625 |
Related Book For
Auditing Cases An Interactive Learning Approach
ISBN: 9780134421827
7th Edition
Authors: Mark S Beasley, Frank A. Buckless, Steven M. Glover, Douglas F Prawitt
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