US GAAS – Materiality of component greater than group

  • Creator
    Topic
  • May 5, 2018 at 8:59 am #1785903
    CPAfit
    Participant

    Hey guys,

    Just wanted to know what does US, GAAS says about a situation where the Materiality of a subsidiary exceeds the overall group materiality. Will really appreciate if someone can give me the reference.

    AUD - 82
    BEC - 78
    FAR - 78
    REG - 83
    HIYA!

    NH Licensed CPA - Jun 2018

Viewing 1 replies (of 1 total)
  • Author
    Replies
  • June 5, 2018 at 11:44 pm #1822868
    Joetse
    Participant

    Hi – I don't think Becker mentions this, but my old audit textbook from college says it would be an unmodified opinion explaining the magnitude of the portion of F/S audited by the component.

  • Author
    Replies
Viewing 1 replies (of 1 total)
  • You must be logged in to reply to this topic.