Fachprüfung Wirtschaftsprüfer Practice Questions - Austria Fachprüfung Für Wirtschaftsprüfer (Statutory Auditor Examination) Exam

Planning Materiality is set using a percentage of a chosen benchmark (e.g. 0.5%–1% of revenue or 5% of profit before tax); Performance Materiality is set lower (e.g. 60%–75% of planning materiality) to reduce aggregation risk; Clearly Trivial is set at 3%–5% of planning materiality All three thresholds must be set at exactly €100 for all companies in Austria Materiality is set at 50% of total balance sheet equity in every audit Auditors are prohibited from calculating mathematical materiality under Austrian law