Which of the following statements about materiality is in?
A)Materiality is a key auditing concept that is assessed during the risk assessment phase of every audit.
B)Information is considered material if it has no impact on the decision-making process of financial report users.
C)Materiality is used to guide audit testing and assess the validity of information contained in the financial report.
D)The preliminary assessment of materiality guides audit planning and testing.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements about materiality is in?
A)Materiality is a key auditing concept that is assessed during the risk assessment phase of every audit.
B)Information is considered material if it has no impact on the decision-making process of financial report users.
C)Materiality is used to guide audit testing and assess the validity of information contained in the financial report.
D)The preliminary assessment of materiality guides audit planning and testing.

Which of the Following Statements About Materiality Is In