MATERIALITY-Explain how materiality affects audit reporting decisions
MATERIALITY Explain how materiality affects audit reporting decisions
Tag: Materiality
Discuss journal entries that would be of interest to investigate the economic value of the entry. For instance, think about the timing, who makes the journal entry, or even patterns that may appear over time that would be of interest to investigate.
1. Discuss journal entries that would be of interest to investigate the economic value of the entry. For instance, think about the timing, who makes the journal entry, or even patterns that may appear over time that would be of interest to investigate. List out at least 4 different flagged items that would need to […]
What other factors or influences,if any, the removal of AASB 1031would impactthe auditors’judgment on materiality?Explain your answer.
QUESTION 1(20 MARKS)Case 1During the financial year 2020/2021, you are one of the audit partnerswith Summitand Associates CAs, a large and experienced audit firm.You have been approached to accept the audit of Chem SafeLtd (Chem Safe), a medium-sized chemical manufacturer. The manufacture of the chemicals results in highly toxic waste and Chem Safeis currently under […]
Discuss the impact of the ESG factors you identified on the NPVs of projects the company is pursuing.
Description Introduction • What are you going to talk about in this report? • What is the purpose of it? • What will it include? • 50-150 words (NO more than 150 words for Intro) Required Q1) Read the Case of British Petroleum (BP) provided and identify the relevant ESG factors that would affect the […]