March 2026 ACCA Exams

Comments & Instant poll

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for June 2026 exams.
Get your discount code >>

Audit opinion

This topic has 1 reply, 2 voices, and was last updated 3 years ago by Kim Smith.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
November 10, 2022 at 4:01 pm #671196
jangodango
Participant
- Topics: 28
- Replies: 14
In the sep/DEC 20 question 3d. When you calculated the size you had 2.3% and you said it was material but I remember in the notes the materiality guide for assets was 1% – 2%. So since it is over 2% why is it material
November 10, 2022 at 4:42 pm #671202
Kim Smith
Keymaster
- Topics: 138
- Replies: 8443
Greater than the upper end of the benchmark – 2% – is material.
Less than the lower end of the benchmark – 1% – is not material.
In between is a “grey area” that may or may not be material in the circumstances. In AA, if it matters, the % will always be “clear cut”.
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.