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calculating materiality

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › calculating materiality

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  • December 3, 2017 at 2:46 pm #419957
    vikulchik07
    Participant
    • Topics: 26
    • Replies: 12
    • ☆

    Hello!

    If we have the information about revenue and profit in the question, does it mean that we definitely to present the calculation of materiality in the answer?

    Thanks in advance!

    December 3, 2017 at 3:08 pm #419961
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10597
    • ☆☆☆☆☆

    Almost certainly. There is not usually any other reason to be given that information. Note that the information could be given specifically in a note to the question or, of course, be present in the statement of P&L.

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