Audit Materiality means a quantitative value used to verify if an account balance or transaction is worth performing testing procedures in an audit context. There is no specific formula for arriving at the Materiality numbers, and it depends on who are the users of the financial … [Read more...] about Audit Materiality (with Examples)
performance materiality
Performance Materiality Definition, Example, and Calculations
Definition: Performance materiality (PM) is a quantitative value which ensures that the aggregate amount of uncorrected and undetected misstatements shall not exceed the materiality level for the financial statements as a whole. Refer below to understand this statement … [Read more...] about Performance Materiality Definition, Example, and Calculations
