Auditing & Assurance Services: A Systematic Approach (Irwin Accounting)
Auditing & Assurance Services: A Systematic Approach (Irwin Accounting)
10th Edition
ISBN: 9780077732509
Author: William F Messier Jr, Steven M. Glover Associate Professor, Douglas F. Prawitt Associate Professor
Publisher: McGraw-Hill Education
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Chapter 3, Problem 3.11RQ
To determine

Concept Introduction:

Materiality is a level at which an amount or transaction is considered relevant for the purpose of audit. Auditor provides his opinion on the basis of examination of material items.

To indicate: The importance of policies and procedures for establishing materiality.

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