Performance Materiality Refers to Certain Types of Misstatements That Are

question 69

Essay

Performance materiality refers to certain types of misstatements that are likely to be more important to users than others, even if the dollar amounts are the same.Identify three qualitative factors that might significantly affect an auditor's materiality judgement and give an example of each.

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Definitions:

Average Speeds

The total distance traveled divided by the total time taken; often used in motion problems.

Miles Apart

A measurement of distance between two locations in miles.

Sketch

A rough or unfinished drawing or painting, often made to assist in making a more finished picture.

Graph

A visual representation of data, functions, or equations, typically plotted with an x and y axis to show relationships between different variables.