1
Q
Materiality
A
- an expression of relative significance/importance of a particular matter in the context of the FS as a whole
2
Q
A matter is material if…
A
Its omission/misstatement would reasonably influence the economic decisions of users taken on the basis of FS
3
Q
Materiality depends on…
A
The size of the item/error judged in the particular circumstances of its omission/misstatement
Audit & Assurance CA2D
flashcards
Decks in class (9)
# Cards
-
Chapter 1.1 - Accounting VS Auditing2
-
Chapter 1.2 - Accountability, Stewardship & Agency3
-
Chapter 1.3 - Objectives Of External Audit4
-
Chapter 1.4 - Audit Process9
-
Chapter 1.5 - Types & Level Of Assurance And Reporting6
-
Chapter 1.6 - Materiality3
-
IFRS3
-
Chapter 2.1 Regulation4
-
Chapter 2.2 Auditors Rights & Duties3
