PCAOB Auditing Standard 2105: Consideration of Materiality

This PCAOB Auditing Standard 2105: Consideration of Materiality in Planning and Performing an Audit establishes requirements regarding the auditor's consideration of materiality in planning and performing an audit.

In interpreting the federal securities laws, the U.S. Supreme Court has held that a fact is material if there is "a substantial likelihood that the . . . fact would have been viewed by the reasonable investor as having significantly altered the 'total mix' of information made available." As the Supreme Court has noted, determinations of materiality require "delicate assessments of the inferences a 'reasonable shareholder' would draw from a given set of facts and the significance of those inferences to him.

This timely, two hour morning CPE training event is designed for the CPA firm staff members who will be working on PCAOB regulated audits. The attendees will learn how this PCAOB Auditing Standard should be reflected in the auditing workpapers.

Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.

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