Which of the following is not a consideration in determining a measure of materiality?
A) Risks of material misstatements due to fraud
B) Quantitative assessment of the importance of the difference of opinion with client management on an accounting issues
C) Qualitative assessment of the importance of the difference of opinion with client management on an accounting issues
D) Importance of audit committee in the organization

Question

Quizplus · Accepted Answer

The importance of audit committee in the organization is not a consideration in determining materiality. A, B, and C are all relevant considerations in determining materiality.

Which of the Following Is Not a Consideration in Determining