Top Posters
Since Sunday
21
20
18
17
16
15
15
14
14
14
14
14
New Topic  
wrote...
Posts: 116
A week ago
Describe the concept of materiality and provide an example.
Source  Download
Accounting Information Systems
Edition: 14th
Authors:
Read 7 times
1 Reply
Replies
Answer verified by a subject expert
wrote...
Posts: 128
Rep: 9 0
A week ago
Sign in or Sign up in seconds to unlock everything.
Materiality is the amount of an error, fraud, or omission that would affect the decision of a prudent user of financial information. Determining materiality, what is and is not important in an audit, is a matter of professional judgment. Materiality is more important to external audits, where the emphasis is fairness of financial statement, than to internal audits, where the focus is on adherence to management policies. Students' answers may vary depending on their examples.
1
Related Topics
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers.
Learn More
Improve Grades
Help Others
Save Time
Accessible 24/7
  291 People Browsing
Related Images
 3454
 331
 96