Document Type
Article
Publication Date
3-1-1998
Publication Source
The Government Accountants Journal
Abstract
The political sensitivity of the area under audit to adverse media exposure and litigation concerns the nature rather than the size of an amount, such as illegal acts, bribery and corruption, related party transactions, snowballing patterns of error and other risks that grow over time. Qualitative materiality considerations should not be ignored-they can and frequently do influence the nature and scope of governmental audits. Financial Accounting Standards Board Concepts Statement No. 2 defines materiality as the magnitude of an omission or misstatement that would influence the decisions of a user of financial statements. Audit planning needs to incorporate considerations of audit effectiveness and audit efficiency. An article presents several approaches to audit planning that provide more consideration of qualitative materiality, without denying the obvious importance of quantitative materiality.
Inclusive pages
44
ISBN/ISSN
1533-1385
Document Version
Published Version
Copyright
Copyright © 1998, Association of Government Accountants
Publisher
Association of Government Accountants
Volume
47
Issue
1
eCommons Citation
Ramamoorti, Sridhar and Hoey, Andrea Lee, "Qualitative Materiality in Government Audit Planning" (1998). Accounting Faculty Publications. 88.
https://ecommons.udayton.edu/acc_fac_pub/88
Included in
Accounting Commons, Business Administration, Management, and Operations Commons, Business Law, Public Responsibility, and Ethics Commons, Corporate Finance Commons, Nonprofit Administration and Management Commons
Comments
This document is provided for download with the permission of the author and the publisher. Permission documentation is on file.
The Government Accountants Journal now goes by the title Journal of Government Financial Management. Its volume numbers are continuous.