How Materiality Impacts the Auditor’s Risk Assessment

Monday, January 8, 2018

PCAOB auditing standards establish requirements regarding the auditor’s consideration of materiality in planning and performing the audit. This consideration is one of the most important judgments that an auditor makes. In this video, the expert panel discusses the challenges that auditors face in determining the quantitative and qualitative elements of risk assessment at the consolidated financial statement level and at the individual component level.

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