Materiality significantly impacts the auditor's decisions about how much and what kind of evidence to gather.

Question

Quizplus · Accepted Answer

Materiality is a key factor in determining the amount and type of evidence that should be obtained during an audit. An auditor should focus on gathering sufficient, appropriate evidence to support their opinion on the financial statements and consider the materiality level when making decisions about the scope of their procedures.

Materiality Significantly Impacts the Auditor's Decisions About How Much and What