Article Per Year (5 Year)
p-Index From 2021 - 2026
0
P-Index
This Author published in this journals
All Journal The International Journal of Accounting and Business Society
Gin Chong
Unknown Affiliation
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
Materiality Thresholds in Accounting and Auditing Some UK Evidence Chong, Gin
The International Journal of Accounting and Business Society Vol 8, No 1 (2000): The International Journal of Accounting and Business Society
Publisher : Accounting Department,

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This paper reports the telephone interviews with 12 auditors (Big 5 and non Big 5) and 14 non auditors on the materiality thresholds adopted by them or by their organisations. Non auditors include from finance directors, banker, lawyer, internal auditors, an academic, and technical directors of the Accounting Standards Board (ASB) and the Auditing Practices Board (APB) in the UK. This is in respond to the issuance of Statement of Auditing Standards (SAS) 220 on ‘Materiality and the Audit= by the APB in 1995 whereby no materiality threshold was specifically mentioned. The findings showed that 10% of net profit before tax is the favourite threshold. This is close to recommendations from literature or due to influences by the literature themselves. A specific mathematical guideline could enhance harmonisation of reporting and interpretation of financial results. key words: materiality, audit risk, auditors, true and fair view.
Co-Authors