medium10 pts · first answer countsmateriality

Purpose of performance materiality

Why does the auditor set performance materiality below overall materiality?

A.To reduce the audit feeB.To reduce to a low level the risk that uncorrected and undetected misstatements together exceed overall materialityC.Because the law sets it at half of materialityD.To decide which items to report as key audit matters

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Purpose of performance materiality

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