Calculate materiality level to be used in the audit of financial statements of Square Textiles Limited considering the following information : Profit Before Tax - Tk. 2,806,143 Gross Profit -Tk. 3,900,500 Revenue -Tk. 9,850,120 Total Assets-Tk. 15,250,125 .



2) You are working as audit supervisor in a reputed CA firm of England.  You have been deputed toconduct the audit of Khan Ltd, which is a manufacturing company operating in England  since 2010.From the draft financial statements for the year ended 30 June 2017, you found that the company earnednet income of $ 8,50,00,000 in the year ended on 30 June 2017.

Requirements:

(1) Calculate planning materiality.

Answer rating: 100% (QA)

1 Square Textiles Limited To calculate the materiality level for Square Textiles Limited you can con... View the full answer