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.

Amol S Joglekar

Amol S Joglekar (Expert)
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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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