Practical Guidance 3 – Materiality for Audit of Separate Financial Statements of Small CompaniesPublished on - Friday, August 6th, 2010
In designing the audit plan, the auditor establishes an acceptable materiality level so as to detect quantitatively material misstatements and to evaluate whether the financial statements are prepared, in all material respects, in accordance with applicable Financial Reporting Standards. This Practical Guidance aims to provide some practical considerations to auditors when establishing materiality during the planning phase of an audit.
To access article: Click here
For more details on the relevant course, please Click here.