A matter is material if its omission or misstatement would reasonably influence the decisions of an addressee of the auditors’ report | |
A matter is material if the auditor and the directors both decide that further work needs to be done in the area under question | |
A matter is material only if it affects directors’ emoluments | |
A matter is material only if it changes the audit report |
Which of the following is correct in relation to materiality?