When information exceeds an auditor's preliminary materiality assessment, it is deemed to be
A) performance materiality.
B) specific materiality.
C) quantitatively material.
D) none of the above

Question

Quizplus · Accepted Answer

When information exceeds an auditor's preliminary materiality assessment, it is considered to be quantitatively material. This means the size or nature of the information is such that its omission or misstatement could influence the economic decisions of users taken on the basis of the financial statements.

When Information Exceeds an Auditor's Preliminary Materiality Assessment, It Is