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Explain what is meant by audit judgement

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Reference no: EM132957189

Question - a) Explain what is meant by audit judgement, and give examples of its application in support of your explanation. How certain can an auditor be that their judgement has produced the right conclusion during the audit?

b) The concept of materiality is fundamental to the audit. It is applied by auditors at all stages of the audit enabling the auditor to evaluate the effect of all the identified misstatements, and of uncorrected misstatements, if any, on the financial statements so that an appropriate audit opinion can be expressed. Discuss the different types of materiality, how they are set and applied in evaluating identified material misstatements.

Reference no: EM132957189

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