1. Provide arguments on why you would agree or disagree with this statement, “Materiality is the only consideration for an auditor deciding whether to qualify the audit opinion”.
2. Subsequent events are often issues that may cause a conflict between the management of the company and the auditor. Explain the reason(s) for this conflict and describe the steps that the auditor will take in such a situation. 
3. The auditor can choose to select all items (100% examination) or select specific items when selecting a sample to test. Discuss the circumstances under which each sampling will apply. Give examples to support your answer. 

Answer rating: 100% (QA)

Materiality plays a key role when preparing IFRS financial statements as it impacts which information is considered relevant in particular from the users point of view and should therefore be presente... View the full answer