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Determine Materiality (Audit)
03-07-2011, 03:17 AM
Post: #1
Determine Materiality (Audit)
One of four categories is "single rules". So who can tell me why can Sum M-2 be greater than Sum M-1?
We have M-1 = 5% pre-tax income
M-1 = 1/2% of total assets
M-1 = 1% of equity
M-1 = 1/2% of total revenues
And when we determine M-2, we have M-2 = x% M-1. My teacher says that x% = 50% and requires me to explain the meaning of " 50%". Who can answer me 2 above questions? Thank

Sorry for my bad english.
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