Dipl. Wirtschaftsprüfer HFP Practice Questions - Diplomierte R Wirtschaftsprüferin Wirtschaftsprüfer Mit Eidgenössischem Diplom Exam

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Under Swiss Auditing Standard PS 320 (ISA 320 / Materiality in Planning and Performing an Audit), what is 'Performance Materiality' (Toleranzwesentlichkeit)?
Correct Answer:
The amount or amounts set by the auditor at less than materiality for the financial statements as a whole to reduce to an appropriately low level the probability that the aggregate of uncorrected and undetected misstatements exceeds overall materiality

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