Determine the calculation of materialityfor exampleturnover, Ask an Expert

Finance

Determine the calculation of materiality

For example:

Turnover 1% -1.5%

Net assets 1% -2%

Net profit 2% -6%

Whatever numbers are selected they would be based on reliability and confidence the auditor places on

Department manager's integrity (for example motive to maximise profits because bonus linked?)
The quality of the financial statements (for example qualified staff to produce the accounts?)
Any other factors affecting the auditor's judgement.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M9580868

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