Section 1.
• Determine the level of materiality to be used for the audit of the group accounts for the year
ending in 2019. Your answer should include a discussion of the nature of materiality, and a
description of what materiality represents in terms of the audit of a set of financial statements, and
should discuss the different bases and considerations employed in arriving at materiality. Explain the
rationale behind your choice of a certain level of materiality. Provide a quantitative estimate of
materiality for your company.
• Review the various draft notes and disclosures accompanying the draft annual report. Highlight
those that may have significance to the audit, eg. Contingencies, and outline the audit procedures
that you will need to perform.
Section 2.
• The partner has requested you to prepare a preliminary analytical review on the information
provided by your company. The partner suggests that as
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