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Which of the following statements is NOT correct about materiality?Select one:   a. Auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of an informed decision maker who will rely on the financial statements b. Materiality is a relative concept c. Materiality judgments involve both quantitative and qualitative judgments d. At the planning state, the auditor considers materiality at the financial statement level only

Which of the following statements is NOT correct about materiality?Select one:   a. Auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of an informed decision maker who will rely on the financial statements b. Materiality is a relative concept c. Materiality judgments involve both quantitative and qualitative judgments d. At the planning state, the auditor considers materiality at the financial statement level only

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following statements is NOT correct about materiality?
Select one:

 

a.
Auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of an informed decision maker who will rely on the financial statements
b.
Materiality is a relative concept
c.
Materiality judgments involve both quantitative and qualitative judgments
d.
At the planning state, the auditor considers materiality at the financial statement level only
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