For purposes of an integrated audit, materiality is assessed within the context of users who have

Question

Quizplus · Accepted Answer

Materiality is assessed within the context of users who have appropriate knowledge of business and economic activities and the ability to make appropriate economic decisions on the basis of information in the financial statements. It is also important for users to understand that financial statements are prepared and audited to levels of materiality. Therefore, all of the above options are important considerations for determining materiality in an integrated audit.

For Purposes of an Integrated Audit, Materiality Is Assessed Within