California Association of State Auditors

In every audit we compare the auditee’s assertions against criteria to decide whether the auditee’s claims are materially correct.  Thus, assertions, criteria, and materiality are integral to all the work we do whether it be financial, compliance, performance, or internal.
 
In this class we’ll discuss in detail the roles that assertions, criteria, and materiality play in the audit and how each impacts our planning, testing, and reporting. We’ll consider how assertions relate to our audit objectives and how best to design and perform testing to meet those objectives.  We’ll also look at the characteristics of suitable criteria; especially in situations where regulations are not readily available.  Finally, we’ll discuss how materiality applies to compliance, performance, and internal audits and the factors to consider when reporting findings.