Materiality is a relative concept
Materiality judgments involve both quantitative and qualitative judgments
Auditors consideration of materiality is influenced by the auditors perception of the needs of an informed decision maker who will rely on the financial statements
At the planning state, the auditor considers materiality at the financial statement level only
See Answer
Answer
: At the planning state, the auditor considers materiality at the financial statement level only
Explanation
: N/A
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