Materiality in the Context of an Audit between Professional Judgment and Subjectivism

Adela Socol
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Adela Socol: “1 Decembrie 1918” University of Alba Iulia, Romania

Annals of the University of Petrosani, Economics, 2008, vol. 8, issue 2, 209-216

Abstract: The objective of this paper is to provide a global perspective of the materiality from an audit viewpoint. We describe the main regulations and settlements in the field and examine the various approaches of the materiality in audit. The paper presents the need of auditor to establish an adequate materiality in audit. From the theoretical approach and from the example supporting this particular theme, the results of this study insist on the importance of professional judgment in auditing and identifies major issues that need to be considered to improve the choose of materiality in audit

Keywords: Planning and Performing an Audit of Financial Statements; Evaluating the Effect of Misstatements (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pet:annals:v:8:i:2:y:2008:p:209-216

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