oa Meditari : Research Journal of the School of Accounting Sciences - Materiality in audits of listed South African long-term insurers
|Article Title||Materiality in audits of listed South African long-term insurers|
|© Publisher:||University of Pretoria|
|Journal||Meditari : Research Journal of the School of Accounting Sciences|
|Author||S.P.J. Von Wielligh|
|Publication Date||Jan 2005|
|Pages||189 - 201|
|Keyword(s)||Audi, Audit risk, Disclosure of materiality, Dual materiality, Long-term insurance, Planning materiality, Qualitative materiality, Quantitative materiality, Questionnaire and Users of financial statements|
Audits of long-term insurers are complex, high-risk engagements. The auditor's consideration of materiality has a direct impact on the quality of such audits. So far, however, no research has been published on the application of materiality in audits of long-term insurers.
This study examines various aspects of planning materiality in the audits of listed South African long-term insurers on the basis of responses to a questionnaire, taking into account issues identified from the literature reviewed. A number of recommendations are made on the basis of the findings. Largely on the basis of the results of this study, the South African Institute of Chartered Accountants has commissioned a project to revise existing guidance for auditors.
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