What are the new changes to Materiality (2-200) and Group Materiality?
With the latest Audit System template update to version 19.00.310Rev A (2017), there are several new improvements to the Materiality (2-200) and Group Materiality documents.
The video below illustrates the following changes:
The following improvements are:
- Materiality setting options have been improved to be more specific.
- Improved the readability of the Materiality document.
- A more detailed Planning section.
- The ability to change important terminology such as 'Planning' or 'Interim' Materiality.