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Define 'materiality' and explain briefly the distinction between planning materiality and tolerable error. Explain briefly what is meant by 'performance materiality' and how it relates

Define 'materiality' and explain briefly the distinction between planning materiality and tolerable error.

Explain briefly what is meant by 'performance materiality' and how it relates to planning materiality and tolerable error.

Describe briefly the three steps in setting planning materiality.

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Materiality refers to the quality of something being significant Planning materiality is the maximum ... blur-text-image

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