What is materiality and steps in calculation and use of materiality? Materiality refers to the threshold or cutoff point at which an item or issue becomes significant enough to warrant attention from the auditor or financial statement preparer. In other words, it is the level of significance at whic...

Why audit is conducted in any company in India? Auditing is a crucial process for any company in India, as it helps to ensure the accuracy and integrity of financial statements and records. The primary purpose of an audit is to provide assurance that the financial statements of a company are free fr...