Do you think that auditors would be better off if auditing standards set a specific percentage of a specific base e.g. 1% of total assets to provide auditors guidance on setting materiality for a specific audit or are it better to leave the determination to the auditor judgment Discuss the pros and cons of this policy change for both auditors and users?

Answer rating: 100% (QA)

ADVANTAGES OF policy change for AUDITORS and users The way that audit is mandatory by law in specific cases without anyone else should show that there should be some certain utility in it The central ... View the full answer