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Audit Materiality Thresholds Quiz
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Audit Materiality Thresholds Quiz

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Questions and Answers

Which of the following would an auditor not consider when setting a preliminary materiality threshold?

  • The size and experience of the audit team (correct)
  • Sample sizes
  • What level of misstatement is likely to lead to the auditor not being able to give an unmodified opinion
  • Whether to use sampling

    • What is a factor that an auditor would consider in setting a preliminary materiality threshold?

  • The level of detail in the financial statements
  • The size of the audited company's annual revenue (correct)
  • The number of shareholders in the company
  • Whether to use sampling

    • Which of the following is a consideration when deciding whether to use sampling in an audit?

  • The company's advertising budget
  • The auditor's personal preference
  • The number of employees in the company
  • The complexity of the company's internal controls (correct)

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