April 2018
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880 pages
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| Source | Statement on Accounting Standards (SAS) 122. |
Source: AU-C Section 320.09
AU-C Section 320.08 states that:
…the objective of the auditor is to apply the concept of materiality appropriately in planning and performing the audit.
The concept of materiality recognizes that some matters are more important for the fair presentation of the financial statements than others. In performing the audit, ...