The concept of materiality is applied by the auditor in both planning and performing the audit, and in evaluating the effect of identified misstatements on the audit and of uncorrected misstatements if any, on the financial statements and in forming an opinion in the auditor’s report. The auditor’s determination of materiality is a matter of professional judgment, and is affected by the auditor’s perception of the financial information needs of users of the financial statements. The auditor’s professional judgment about misstatements that will be considered material provides a basis for: • Determining the nature, timing and extent of procedures to identify and assess risks of material misstatement; • Identifying and assessing the risks of material misstatement; • Determining the nature, timing and extent of further audit procedures. 请翻译成中文