ICAEW.com works better with JavaScript enabled.
Exclusive

Material is material but what does material mean

In this webinar David Gallagher addresses how to apply these principles effectively and how to record them efficiently.

Exclusive content
Access to our exclusive resources is for specific groups of students, subscribers, users and members.
In this webinar David Gallagher addresses how to apply these principles effectively and how to record them efficiently. He briefly summarises the key requirements of the ISAs but the main focus is on effective application and includes practical guidance and examples.

Over many years, one of the more contentious areas of an SME audit is the setting of materiality and related concepts such as performance materiality and tolerable misstatement. And just when a firm thinks they’ve got a handle on it and are applying the principles consistently, along comes a group audit involving another firm and it seems like it’s back to square one.

Topics covered:

  • Why does materiality matter, but equally why is it not the be all and end all?
  • What exactly is performance materiality (and for that matter tolerable misstatement) and when should it [/ they] be used?
  • What is the purpose of the concept of a clearly trivial threshold and at what level should it be set?
Allow StreamAMG video

This video is provided by StreamAMG. We ask for your permission before anything is loaded as they place a few cookies on our site. For more information on how we handle cookies, please see our privacy policy and cookies policy. To view this content on the website, please accept and continue.