Question: Why do the audit standards address qualifications of the user
Why do the audit standards address qualifications of the user of financial statements in the discussion of materiality?
Answer to relevant QuestionsWhen a benchmark approach is used to set materiality at the financial statement level, why are different benchmarks used for different types of entities, or companies in different entities? What is accomplished by risk assessment during planning?What audit procedures are useful for a financial statement audit but not an ICFR audit, and why?In what way can work on the control environment performed by others affect the auditor’s work?About which aspect of a company’s internal control is the auditor primarily concerned?
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