Question 1 a.Explain fully what is meant by materiality, with the aid of example. (2 Marks) b. Differentiate between per

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Question 1
a.Explain fully what is meant by materiality, with the aid of
example. (2 Marks)
b. Differentiate between performance materiality level and
performance materiality. (4 marks)
c. An auditor can use substantive procedures as well as test of
controls when performing audit procedure. With the aid of an
example, differentiate between substantive procedures and tests of
controls. (4 marks)