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The importance of materiality in audit

Author

Listed:
  • Maria MORARU

    (WEST UNIVERSITY OF TIMISOARA)

  • Franca DUMITRU

    (TIBISCUS UNIVERSITY OF TIMISOARA)

Abstract

In the context of globalization the need of information becomes more and more important. The information dominate the economical life of entities, the access to information being an absolute necessary condition for the business success. The auditors issue a kind of warranty certificate concerning the information contained in the financial or non/financial statements. The work makes a study of the determination method of materiality, of its importance in the audit process, it presents the relationship that exists between the materiality and the audit risk.

Suggested Citation

  • Maria MORARU & Franca DUMITRU, 2012. "The importance of materiality in audit," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 266-272, May.
    • Handle: RePEc:tdt:annals:v:xviii:y:2012:p:266-272
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    File URL: http://fse.tibiscus.ro/anale/Lucrari2012/kssue2012_039.pdf
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    Cited by:

    1. Ovidiu-Constantin Bunget & Dorel Mateș & Alin-Constantin Dumitrescu & Oana Bogdan & Valentin Burcă, 2020. "The Link between Board Structure, Audit, and Performance for Corporate Sustainability," Sustainability, MDPI, vol. 12(20), pages 1-27, October.

    More about this item

    Keywords

    audit; materiality; audit risk; estimated value of errors; financial statements;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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