"Materiality is not a matter of Size"....Correct or Incorrect

Auditing

In suggested answer is given as Incorrect how ? Note point H in the image below

Prethivi Rajan

CA Final

★ 9K+

02-Mar-23 12:45

935

Answers (2)

Best Answer

Incorrect because.. Materiality may be matter of size and may not be a matter of size at times. So the given statement is not fully correct. As you can see, it is given in the explanation materiality is not ALWAYS a matter of size.

Angel Maria Varghese

CA Final

★ 9K+

02-Mar-23 13:02

It is correct

Kriti Iyer

CA Inter

★ 3K+

02-Mar-23 12:49