Materiality of planning and performing an audit

[@nsindisomndaba4226]

If the Risk is medium how do we calculate perfomance materiality?

[@malikhamidjamal]

I have a question, assume overall materiality for the financial statements as a whole is set as 100,000, performance materiality for account recievable set as 40,000. If the auditor finds one receivable that is overstated by 55,000. What the auditor should do and what will be it's impact on audit opinion?

[@JnlBkn]

Good question i would love to hear the answer to this.

[@sniperfriend155]

I guess auditor should perform test of details.

[@chibuezedaike9331]

The auditor would propose an adjustment to correct the misstatement

[@Ozil182]

🔥🔥🔥🔥

[@eaglesk7366]

Aaaaa maita basa