Materiality in Planning a Governmental Audit  

Materiality is a huge factor when planning an audit, and the process of determining materiality is unique in the governmental entity arena. Jennifer Louis, CPA will first examine how, for the financial statement preparer, there are requirements within GASB to have a certain level of desegregation of information in terms of presentation. She will then discuss how materiality also is a critical element of the auditor's process, and how it is important for auditors to examine items from the perspective of the users of the financial statements. Jennifer will close the program with a look at the concept of performance materiality as it relates to governmental audits.