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Hi Sir, to calculate materiality in exam questions may i know must we calculate using all the information given to us for example using revenue, profit, total asset? How do u determine what to use to calculate?
It should be intuitively obvious which benchmark you are going to be comparing with.
However, you should still use all three and then say something like “the error will have no affect on revenue so there is no point assessing materiality against the income figure”
Why not check some of the examiner’s answers and see how she approaches this issue?
“Ask” or “Enquire” – no, no big deal
The examiner does not like (sorry, DOES NOT LIKE) “check”
There are lots of other verbs that could be more professional and meaningful.
Verify, confirm, assess, determine, inspect, enquire, observe … to name a few
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