Performance Materiality

This topic has 3 replies, 2 voices, and was last updated 14 years ago by Ken Garrett.

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March 6, 2012 at 6:46 am #51731
nrjsma
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For an auditor, when he has set overall materiality and specific areas materiality, why is again the need to set performance materiality?
March 6, 2012 at 8:05 am #95152
Ken Garrett
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In case all the little errors add up the same way to become a large effect.
March 6, 2012 at 12:06 pm #95153
nrjsma
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how is performance materiality calculated?
March 7, 2012 at 4:53 pm #95154
Ken Garrett
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As far as I know, there is no scientific way of doing that. Its just a general lowering of the amount of errors that will be tolerated without reporting.
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