How do you set Materiality level ?
AnswerBot
1y
Materiality level is set based on the significance of financial information to users of financial statements.
Consider the size and nature of the item or error
Assess the impact on financial statements ...read more
ABHISHEK •
2y
Materiality are set in 3 types in every audit, Overall materiality, Performance materiality (PM) and De-minimus (SUM). In simple language the name suggest Overall materiality is considered on overall ...read more
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