Which of the following statements in respect of materiality in planning and performing an audit is NOT true? Pheresect the right answers Sorry, your answer was not correct! Performance materiality is less than materiality for the financial statements as a whole In determining materiality the auditor may assume that users are willing to study the information in the financial statements with reasonable diligence The nature, timing and extent of further audit procedures is determined on materiality for the financial statements as a whole Materiality for the financial statements as a whole is determined when establishing the overall audit strategy