Publicación: Norma internacional de auditoría 320 importancia relativa o materialidad en la planificación y ejecución de la auditoría
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"Something is important depending on how it affects, on a daily basis, it is said to be important and that it is not important; in auditing materiality is spoken within accounting standards, in terms of financial information, it is said that financial information is material if its omission is not to include it in the Financial Statements or present it in a wrong way affects and influences the decisions of the users of the financial statements. The materiality depends on the magnitude and the nature, judged from particular issues, from the professional judgment, there are inherent uncertainties to the determination of quantities based on the use of estimates and judgments and in consideration of said future there are uncertainties surrounding the financial statements, procedures that have to be estimated, such as litigation of the company, this generates uncertainties that lead us to make estimations that we cannot quantify with accuracy and therefore we could not record it in the financial statements but if should be estimated in the disclosures since one integral part of the financial statement. We define the relative importance and as the audit is carried out, the concept of materiality is also applied, these require the determination of: The materiality for the financial statements taken as a whole; The materiality at the level or levels of particular classes of transactions, balances or disclosures; and an amount or amounts below the materiality level to evaluate the effects of the risks of material errors and the design of audit procedures that respond to those assessed risks. A benchmark percentage is often applied as a starting point in determining the materiality of the financial statements taken as a whole.