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Hi Kim
If an auditor sets a planning materiality at planning stage how does that happen ?
Because weh avent started out audit work yet.. We are only doing planning by understanding entity etc.. so on whta basis do i decide $xxxx is materilaity level if i dont do work on fin statement ?You would generally expect to have draft financial statements as a basis on which to plan the audit. If not draft financial statements you would be able to use the trial balance extracted from the general ledger.
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