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Guidance on materiality

This topic has 3 replies, 2 voices, and was last updated 9 years ago by Ken Garrett.

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September 23, 2015 at 11:47 am #273226
Raveen
Member
- Topics: 25
- Replies: 25
Hello,
just wanted to know whether we have to memorise the extent of error necessary to consider an element to have a material misstatement.
Eg- .5% -1% of revenue
September 23, 2015 at 11:56 am #273231
Ken Garrett
Keymaster
- Topics: 10
- Replies: 10597
Yes – those three sources of guidance as to materiality are important.
September 25, 2015 at 12:39 pm #273542
Raveen
Member
- Topics: 25
- Replies: 25
Is it alright to use a 2010 revision kit. I also have a 2015.
September 25, 2015 at 1:07 pm #273552
Ken Garrett
Keymaster
- Topics: 10
- Replies: 10597
Probably. It’s quite old, but there might be some useful additional questoins there. Concentrate on 2015.
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