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THE BACKGROUND OF PROFESSIONAL JUDGMENT OF MATERIALTY IN STATUTORY AUDIT BASED ON QUALITATIVE FACTORS ANALYSIS

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Author(s): Span Georgeta Ancuta | Popa Irimie Emil | Fulop Melinda Timea | Pop Atanasiu

Journal: Annals of the University of Oradea : Economic Science
ISSN 1222-569X

Volume: 1;
Issue: 1;
Start page: 585;
Date: 2010;
Original page

Keywords: materiality | qualitative factors | professional judgment | financial statements

ABSTRACT
The assessment of a significant ascertainment made by the auditor is particularly sensitive which shapes the quality of a mission as a whole. Materiality plays a primary role in determining the relevance of information provided by the users of financial statements. This material highlights the role of qualitative factors in determining materiality, as far as many practitioners are accustomed to consider this item only in terms of quantitative factors. Although legislation does not set precise rules in determining materiality, the issue is necessary because decisions of the auditors and users of audited information hang on this item.
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