The concept of materiality is pervasive and guides the nature and extent of auditing the financial report.

Name: The concept of materiality is pervasive and guides the nature and extent of auditing the financial report.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Materiality is a fundamental concept in auditing that influences the auditor's decision on the nature, timing, and extent of audit procedures, as well as the evaluation of the effect of misstatements on the financial report.

The Concept of Materiality Is Pervasive and Guides the Nature