Performance Materiality

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(Querist)


25 February 2011

Sir,

i want to know about "Performance Materiality"

Please Let me Know.

Thanks


PINKESH JAIN (Expert)


25 February 2011

Performance materiality is a % of overall materiality after giving a haircut (generally haircut is between 25%-50% of Overall materiality). Performance materiality is used for individual Financial statement line item i.e.mistakes below the performance materiality can be ignored, where as overall materiality is considered for entity as a whole.



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