26
MATERIALITY
Materiality
1 Concept
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2
3
Material if
Depends on the size
Particular circumstances
Material in one year
Material to one company
Audit Work
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Quantitative aspects
Calculated as percentage
Calculate materiality for individual
As a whole
Aggregate net effects
Sometimes adjust for immaterial
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Related to risk
Used in the calculation
In the performance
Less work is performed
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Some work is always performed
Qualitative Sample
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Disclosure of accounting policies
Not adequately described
Not fairly present
Even though the figures
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Description
Operation as discontinued