An auditor makes multiple materiality judgements. a. Define planning materiality. Explain how the auditor typically determines and
Question:
An auditor makes multiple materiality judgements.
a. Define planning materiality. Explain how the auditor typically determines and uses it in the audit.
b. Define performance materiality. Explain how the auditor typically determines and uses it in the audit.
c. Define posting materiality. Explain how the auditor typically determines and uses it in the audit.
d. Describe how qualitative factors can affect the quantitative materiality assessment.
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a Overall materiality also known as planning materiality is the materiality amount that the auditor uses in in determining whether the financial statements overall are materially correct In planning t...View the full answer
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my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
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Related Book For
Auditing A Risk Based-Approach
ISBN: 978-1337619455
11th Edition
Authors: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
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