Auditors Usually Make the Materiality Judgment by Referring to a Standard

question 16

True/False

Auditors usually make the materiality judgment by referring to a standard checklist.

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Definitions:

Minimize Costs

Refers to the process of reducing expenses or outlays in order to achieve financial efficiency or budgetary goals.

Population

Any well-defined group of people (or things) that researchers want to know something about.

Researchers

Individuals who conduct systematic investigations to establish facts or principles or to collect information on a subject.

Sample

A group of people (or things) that are representative of the population that researchers want to study.