Ernst & Young Contractor Associate Interview Questions and Answers

Materiality is the concept of determining the significance or importance of information in relation to a decision or financial statement.

• Materiality helps in deciding what information should be included in financial statements

• It is based on the impact that the information could have on the decision-making process of users

• Materiality is subjective and can vary depending on the context and circumstances

• For example, a sma...read more

Different types of opinions include subjective, objective, expert, and lay opinions.

• Subjective opinions are based on personal feelings or beliefs.

• Objective opinions are based on facts and evidence.

• Expert opinions are given by professionals with specialized knowledge.

• Lay opinions are given by non-experts or the general public.

• Examples: A movie review can be a subjective opinion, a scientific study can provide an objecti...read more