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Calculation of PM Current Year Prior Year Trial balance amount: Normalizing adjustments (that is, non-recurring items) Annualized (if required): Benchmark applied Calculated materiality: Conclusion: PM
Calculation of PM Current Year Prior Year Trial balance amount: Normalizing adjustments (that is, non-recurring items) Annualized (if required): Benchmark applied Calculated materiality: Conclusion: PM materiality is Performance materiality: 70% x Conclusion: Performance materiality is Discussion points Consider how you will use the planning materiality in your audit. What factors might lead you to increase or decrease the planning materiality amount? Are there qualitative factors that could impact your materiality decision
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