Auditing questions: The SEC has criticized Public Accounting firms for relying on quantitative measures in arriving at materiality judgment while not focusing sufficiently on important Qualitative issues relevant to those judgments. Define materiality in an audit content. Under what circumstances should auditors rely more heavily on quantitative measurement rather than qualitative issues in making materiality judgment? Under what circumstance should auditors rely more heavily on qualitative issues rather than quantitative measures in making those judgments? Explain your viewpoint citing appropriate references relating to materiality as found in current professional standards and interpretations.