Difference between

“materiality” – is for the financial statements as a whole
“performance materiality” – is the lower amount relevant to planning and performing the audit (see page 33 of the notes)

The term “preliminary materiality” isn’t a technical term in the ISAs but generally refers to the initial setting of materiality at the planning stage of the audit. As the audit progresses, the assessment of materiality may change – so considering what is material when it comes to evaluating errors may not be based on the same threshold as when the audit was started.

And could you please give your posts more descriptive titles – that would help your fellow students find posts through the search function (e.g. “Difference between materiality and performance materiality”).