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Hi Mike
why is it that the higher the materiality the lower the fee.
Also, i cant reply to some previous threads i have opened. It states new replies now closed.
thanks
The higher the materiality, the fewer transactions are selected for auditing
If we audit everything above $4,000, that could result in, say, 500 items
But if we lift materiality to $10,000 that could result in, say, just 15 items
Re previous threads, I close each one now after I have replied – too many students are piggy-backing onto existing threads with questions that are totally unrelated to the original question
Don’t worry about it – if you have a supplementary question, start a new thread. No problem
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