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  1. avatar says

    Is a perticular misstatement have a significant efect on infuence on financial statement than the misstatement is material.
    And can be determined by apply substantive procedure or by simply using common sense..

    • avatar says

      Is a perticular misstatement have a significant efect or infuence on financial statement than the misstatement is material.
      And can be determined by apply substantive procedure or by simply using common sense

    • Avatar of gromit says

      @georgie2000, materiality has a very specific definition: A misstatement is material if it is likely to alter the economic decisions a user of the financial statements. Ultimately, deciding whether a misstatement is material or not is a matter for the audit partner’s judgement

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