LEARNING FORMAT

On-demand video webinar. The date shown above is the expected release date of the on-demand module.

OBJECTIVES

ISA 320 on Audit Materiality is an important standard to understand the level of accuracy we are working to and to guide the focus and work of the audit.

In this session we will cover the correct approach to assessing materiality in a range of practical situations and client types.

KEY TOPICS

Materiality
What is materiality and how does it apply to different entities
Identifying stakeholders and how this impacts them
Different approaches to calculating overall materiality.
Typical benchmarks and how to use them
Documenting the professional judgement used to choose the level of materiality.
Calculating and recording performance materiality and section specific materiality.
Assessing and using the “triviality” level
Using materiality to plan and direct the performance of the audit
Documenting materiality in Inflo

WHO SHOULD ATTEND

The course will be relevant to new accountants in their first year in practice.

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