The auditor’s consideration of materiality is a matter of professional judgment and is affected by the auditor’s perception of the common information needs of the financial statements. The new ...

For example, there are numerous references to a 5% rule—how auditors determine which opinion to render and which internal control weaknesses are material weaknesses based upon the “rule” and ...

Marsha B. Keune, Karla M. Johnstone, Materiality Judgments and the Resolution of Detected Misstatements: The Role of Managers, Auditors, and Audit Committees, The ...

The proposed standards cover the auditor's responsibilities for reducing audit risk to an appropriately low level, audit planning and supervision, identifying and assessing the risks of a material ...