AUDIT TOOL · ISA 320
Materiality Calculator
Determine overall materiality, performance materiality and the clearly trivial threshold under ISA 320, with the benchmark, the percentage and the reasoning behind each recorded.
STANDARDS
ISA 320 and ISA 450
WHO IT IS FOR
Auditors planning an engagement, and students of materiality.
Benchmark and percentage
Enter the financial data, choose the benchmark that fits the entity and the users of its accounts, and set a percentage with the reasons written down.
ACCESS
Free with a member account.
Performance materiality and lower thresholds
Set performance materiality, lower materiality for particular balances or disclosures, and the clearly trivial threshold.
Every threshold in your file, with the judgement behind it written down.
Revision as the audit progresses
Revisit materiality as new information arrives, keep a list of open points and finish with a materiality summary.
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