PROFESSIONAL CHALLENGES CONCERNING THE CALCULATION AND USE OF MATERIALITY

Daniel Botez
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Daniel Botez: University "Vasile Alecsandri" from Bacau, Romania

STUDIA UNIVERSITATIS PETRU MAIOR SERIES OECONOMICA, 2013, vol. 1/2013, 35-44

Abstract: Significance is an essential reference in the judgments of the economic environment. It talks about significant influence, meaningful, significant risk, significant accounting policies, and the like. In accounting and auditing is used the term "materiality" when the submit financial information, to evaluate the risk or partial information or investigating events using statistical sampling technique. Starting from the premise that the conceptual and practical approach of the threshold of significance during the mission financial audit can serve as reference for other categories of investigation in the economic environment in general, to bring focus to a summary of this approach, based on the latest relevant standardization. Thus, after a review of the problem of meaning is the new category "performance materiality", with practical examples. Last but not least, we propose a procedure for the application of the materiality during a mission.

Keywords: significance; materiality; performance materiality (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2013
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