Lesson 12 of 23

Auditing: The Concept of Materiality

Materiality is a very important concept in the context of the audit because it identifies the amount or type of errors that would change the decision of a user using the financial information presented.

This lecture discusses what materiality is, how it is determined, and how it is used during the audit.

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Auditing: Assessing Inherent Risk

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Auditing: Client Risk Profile

8

Auditing: Management Assertions

Auditing: Assessing Inherent Risk

12

Auditing: The Concept of Materiality

13

Auditing: Client Risk Profile

14

How Auditors Document Their Work?

15

Internal Controls in a Company

16

COSO - Integrated Internal Control Framework

17

Assessing Control Risk

18

Testing Internal Controls

19

Auditing Issues in Small Businesses

20

Auditing Planning Approach

21

Audit Programs

22

Auditing the Sales Cycle

23

Substantive Audit Procedures