By setting a higher planning materiality level, an auditor increasthe quality and quantity of evidence that needs to be obtained.

Question

Quizplus · Accepted Answer

By setting a higher planning materiality level, an auditor reduces the quality and quantity of evidence that needs to be obtained, as the auditor becomes willing to accept a higher level of misstatement in the financial statements. This also reduces the level of work required and the cost of the audit.

By Setting a Higher Planning Materiality Level, an Auditor Increasthe