SAS No. 107 identifies the following aspects of disclosure amounts deemed to be material except for:
A) Disclosing an item in one year but not in the next year
B) Qualitative aspects of the disclosure
C) Quantitative significance of the disclosure
D) Professional judgment

Question

Quizplus · Accepted Answer

SAS No. 107 identifies qualitative and quantitative aspects of disclosure as material, as well as the professional judgment of the auditor. However, disclosing an item in one year but not in the next year is not identified as a specific aspect of disclosure materiality in SAS No. 107.

SAS No 107 Identifies the Following Aspects of Disclosure Amounts Deemed