Planning Materiality in Audits of Nonprofit Organizations

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Provided by: The CPA Journal
Topic: Software
Format: HTML
This article is about the assessment of materiality in planning and completing an audit of a nonprofit organization is inherently difficult. The for-profit world's rules of thumb for materiality thresholds, such as calculating a percentage of net income, do not easily apply to charitable organizations. Instead, auditors apply various percentages to total assets, total revenues, or some other measure of an organization's size.
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