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Materiality in Auditing: Finding the Balance Between Precision and Practicality
August 30, 2025by Dr Dawkins Brown
Why Materiality Matters Audits are not about verifying every single transaction. If they were, audits would be impossibly time-consuming, prohibitively expensive, and practically unworkable. Instead, audits are based on the principle of materiality — focusing on information that could influence the decisions of users of financial statements. Materiality is therefore a cornerstone of auditing. It...
