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A. Identify deficiencies in the evidence gathered by the auditor?
B. Discuss the steps involved in setting the preliminary judgment about materiality. Class, the
concept of materiality is important in the context of auditing. Materiality is a function of the
time, the situation, and the people involved. What is material from the point of view of a bank
that lends money to the firm?
C. What is material from the perspective of shareholders?
Solution
Answer :
According to the prescribed SA's:
A. Identifying deficiencies in Audit Method :
B. Steps nvolved in preliminary Judgement of Materiality in Audit:
The concept of materiality in auditing can be explained as follows:
Materiality generally explains that;
From the point of view of bank lending money to the firm :
C. Perspective of Shareolders:
A- Identify deficiencies in the evidence gathered by the auditor- B- D.docx

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  • 1. A. Identify deficiencies in the evidence gathered by the auditor? B. Discuss the steps involved in setting the preliminary judgment about materiality. Class, the concept of materiality is important in the context of auditing. Materiality is a function of the time, the situation, and the people involved. What is material from the point of view of a bank that lends money to the firm? C. What is material from the perspective of shareholders? Solution Answer : According to the prescribed SA's: A. Identifying deficiencies in Audit Method : B. Steps nvolved in preliminary Judgement of Materiality in Audit: The concept of materiality in auditing can be explained as follows: Materiality generally explains that; From the point of view of bank lending money to the firm : C. Perspective of Shareolders: