You have been asked to prepare a presentation on materiality which will provide guidance to members of
Question:
You have been asked to prepare a presentation on materiality which will provide guidance to members of staff in conducting limited company audits.
Include in your presentation
A definition of materiality and performance materiality
The alternative measures that could be employed to determine a materiality limit for an audit.
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An item is material if its omission or misstatement could influence the economic decisions of users taken on the basis of the financial statements Mat...View the full answer
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