Questo com as Questions Suppose that you are the auditor of a major retail client who has reported the following income before taxes Own for the first two quarter of the year aner 14,800,000 and 2nd quarter - 56.000.000 You are in the process of establishing overall materiality for the client. Based on prior years the client has a decine in from the 2nd quarter to the rater. You also know that is in the ath quarter increases by 20% over the 3rd quarter Required A Determine the amount of overall materiality for the audit based on these preliminary amounts (10 marks B. Briefly explain the concept of materiality (5 marks), Ariel 312 TEJE