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Accounting MCQs
Auditing Mcqs
Q
Which of the following is correct in relation to materiality?
AA. A matter is material only if it changes the audit report
BB. A matter is material if the auditor and the directors both decide that further work needs to be done in the area under question
CC. A matter is material only if it affects directors’ emoluments
DD. A matter is material if its omission or misstatement would reasonably influence the decisions of an addressee of the auditors’ report
Correct Answer:
D. D. A matter is material if its omission or misstatement would reasonably influence the decisions of an addressee of the auditors’ report
