1 Replies
Ankur Singhal
(CA Practice)
(4470 Points)
Replied 09 September 2016
material fact is very broad term and it can not be defined in a frame.
What is material fact will differ from case to case.
Generally materials fact depends on nature of audit.
if you are conducting Fina cola audit then any item which effect finance will be material fact.
Materiality also depends on quantum , amount and nature
What is material fact will differ from case to case.
Generally materials fact depends on nature of audit.
if you are conducting Fina cola audit then any item which effect finance will be material fact.
Materiality also depends on quantum , amount and nature
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