Determine the calculation of materiality, Financial Management

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.

 

Posted Date: 9/3/2013 3:13:11 AM | Location : United States







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