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BPP Practice and revision kit. Q87 Wright

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › BPP Practice and revision kit. Q87 Wright

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by Ken Garrett.
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  • November 7, 2016 at 9:33 am #347808
    acca9
    Member
    • Topics: 68
    • Replies: 50
    • ☆☆

    Which of the below factors influence the auditors judgement regarding the sufficiency of the evidence obtained?

    1. The materiality of the account
    2. The size of the account
    3. The source and quality of the evidence available
    4. The amount of time allocated to the audit.

    The answer is no 1 and no 3 and this i understand why, however i do not understand why it couldn’t also be 2?

    Thanks in adavnce

    November 7, 2016 at 1:42 pm #347853
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10595
    • ☆☆☆☆☆

    2 is overtaken by 1.

    The important factor is materiality: an account of $2,000 could be material in a small business (so, sufficient evidence needed)whilst an account of $200,000 might not be material in a large company (so little evidence needed).

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