Materiality concept
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2012
How do we consider the materiality level while vouching the purchases of a work contractor concern?
What should be,according to you,the criteria while vouching the purchase?
plz help.
What should be,according to you,the criteria while vouching the purchase?
plz help.
Amol S Joglekar
(Expert)
10 August 2012
It is a judgement of the person sitting in the chair. Some one like Raja, did not find it MATERIAL to check what could be fetched out of spectrumsale. Whereas cases are not far away where a Tehsildar is arrested for a bribe of INR1000. Materiality, therefore, changes from case to case. It is not an UNRULY horse.
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