Materiality : Auditing скачать в хорошем качестве

Materiality : Auditing

Content: 00:00 Introduction to Audit Materiality 00:47 Topics to be covered in Audit Materiality 01:09 Materiality Concept 03:18 factors contributing materiality assessment: different perspectives and views 04:02 Example: different perspectives and views of Company A and B w.r.t Materiality and its effect on the organizations' financial statement 05:30 When is error considered Material 05:56 Example: Variable Error percentage w.r.t Organizations revenue determining materiality 06:34 How does error impact the organization based on materiality 07:18 Types of Misstatements 07:37 Known Misstatements: factual 08:02 Known Misstatements: material 08:28 Likely Misstatements 08:53 Auditors role with respect to misstatements Requirements to assess materiality 09:13 Example (over or under misstatements) 09:41 Auditor’s role of evaluation and action w.r.t to likely misstatements 10:09 Likely misstatements in statistical sampling 10:52 Materiality Factors 11:20 How do Auditors establish Materiality threshold 11:38 Example: Criteria to consider a misstatement as material 12:10 Auditor roles after identifying misstatement as material 12:30 Auditor roles after identifying misstatement not as material 13:02 Cumulative effect of individual immaterial components 13:35 Materiality: Qualitative factors and considerations based on Professional Judgement 14:02 Qualitative Materiality 14:34 Quality materiality assessments 14:52 Example 1: Company’s ability as a going concern 15:21 Example 2: (how does high market pressure or competition affect the Quality of information presented) 16:29 Quantitative Materiality, if perceived as low, must not necessarily mean low Qualitative materiality as per market standards. 17:10 Competition factors and weakness affecting Investor perception, stock price, and revenue 17:42 Solution: The communication approach by auditors provides a clear understanding to investors about financial performance and its context. 18:15 Set Preliminary and planning judgments about materiality 18:38 Preliminary judgement of materiality 19:00 Preliminary judgment of materiality: factors considered for assessment to determine materiality w.r.t context 19:25 Overall Performance Materiality 19:46 Overall Performance Materiality: Type of assessment and factors 20:21 Example: Count receivable account for entire Process: Preliminary materiality 21:27 Example Step 2 Continued: Performance materiality About Speaker: Professor Helen Brown-Liburd is a tenured Associate Professor and the Associate Director of the Continuous Auditing & Reporting Lab (CAR Lab) at Rutgers Business School (RBS) in Newark, NJ. #Audit #accounting #finance