You have been asked to prepare a presentation on materiality which will provide guidance to members of
Question:
You have been asked to prepare a presentation on materiality which will provide guidance to members of staff in conducting limited company audits.
Include in your presentation
A definition of materiality and performance materiality
The alternative measures that could be employed to determine a materiality limit for an audit.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (7 reviews)
An item is material if its omission or misstatement could influence the economic decisions of users taken on the basis of the financial statements Mat...View the full answer
Answered By
Akshay Singla
as a qualified engineering expert i am able to offer you my extensive knowledge with real solutions in regards to planning and practices in this field. i am able to assist you from the beginning of your projects, quizzes, exams, reports, etc. i provide detailed and accurate solutions.
i have solved many difficult problems and their results are extremely good and satisfactory.
i am an expert who can provide assistance in task of all topics from basic level to advance research level. i am working as a part time lecturer at university level in renowned institute. i usually design the coursework in my specified topics. i have an experience of more than 5 years in research.
i have been awarded with the state awards in doing research in the fields of science and technology.
recently i have built the prototype of a plane which is carefully made after analyzing all the laws and principles involved in flying and its function.
1. bachelor of technology in mechanical engineering from indian institute of technology (iit)
2. award of excellence in completing course in autocad, engineering drawing, report writing, etc
4.70+
48+ Reviews
56+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Case Study: Quick Fix Dental Practice Technology requirements Application must be built using Visual Studio 2019 or Visual Studio 2017, professional or enterprise. The community edition is not...
-
You have been asked to prepare a brief presentation on the nature and purpose of the auditors' opinion for your investment club. The club members would like your presentation to answer these...
-
Invincible Ltd, a company registered in Namibia, is at the early stages of producing group financial statements. The companys first Audit Committee meeting to discuss the financial statements is...
-
Fewer than 20% of M&M candies are green. The hypothesis test results in a P-value of 0.0721. Assume a significance level of = 0.05 a. State a conclusion about the null hypothesis. b. Without using...
-
Cedar Rapids Chemical placed 220,000 liters of direct materials into the mixing process. At the end of the month, 10,000 liters were still in process, 30% converted as to labor and factory overhead....
-
What are the features of vacation ownership condominiums? LO.1
-
Standards do not allow any wastage.
-
You are engaged to examine the financial statements of Horizon Incorporated, which has its own computer installation. During the preliminary understanding phase of your study of Horizons internal...
-
A mortgage for a condominium had a principal balance of $47,300 that had to be amortized over the remaining period of 5 years. The interest rate was fixed at 4.42% compounded semi-annually and...
-
The following unadjusted trial balance is for Ace Construction Co. as of the end of its 2013 fiscal year. The June 30, 2012, credit balance of the owners capital account was $53,660, and the owner...
-
Which of the following would increase, decrease or have no effect on the auditors estimation of inherent risk? a) A new computer system had been installed in the year (increase/decrease/no effect) b)...
-
State the advantages and disadvantages of a framework approach to corporate governance as opposed to a legislative approach
-
What is an array?
-
4. (15pt) A group of students were asked if they have ever driven after drinking. They also were asked, "How many days per month do you drink at least two beers?" In the following discussion, 7 = the...
-
discuss how might you apply the concepts of Total Quality (TQ) to your personal and work environment. Consider your relations with others and your daily activities interactions with. Share the...
-
Dr. Bernstein wants to expand his radiology practice. Dr. Bernstein is researching various local banks for the best certificate of deposit rate to fund his expansion. One bank is willing to offer him...
-
An airplane is flying with a velocity of 240 m/s at an angle of 30.0 with the horizontal, as the drawing shows. When the altitude of the plane is 2.4 km, a flare is released from the plane. The flare...
-
Katsura Corporation incurred pre - operating costs: Investigatory expenses of $ 1 8 , 0 0 0 New employee training $ 2 5 , 0 0 0 Advertising $ 1 0 , 0 0 0 Land and building for use as a retail store...
-
Two structural members A and B are bolted to a bracket as shown. Knowing that both members are in compression and that the force is 15 kN in member A and 10 kN in member B, determine by trigonometry...
-
Organizations are increasing their use of personality tests to screen job applicants. What are some of the advantages and disadvantages of this approach? What can managers do to avoid some of the...
-
How can an accountant obtain publicity in an ethical manner?
-
What restrictions are there on advertising?
-
Give examples of areas where conflicts of interest may occur.
-
Show that the convexity for a zero coupon bond with m payments per year is (m) n(n + -)(1+ m m
-
Abdul Canarte , a Central Bank economist, noticed that the total group purchasing basket of goods (CPI) has gone from $149,740.00 to $344,460.00 in 8 years. With monthly compounding, what is the...
-
ABC Corporation expects sales next year to be $50,000,000. Inventory and accounts receivable (combined) will increase $8,000,000 to accommodate this sales level. The company has a profit margin of 6...
Study smarter with the SolutionInn App