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What’s the protocol for revising materiality during an Audit? Do we have to communicate that to those charged with Goverance and management?
In accounting, there's this concept of "materiality," where the goal of a financial audit is to apply the right scale and scope of an expense so it can be judged as "material" or "immaterial."
Why bring it up? Because in the FIRE echelon, what is material in leanFIRE may not be material in FIRE, which may not be material in chubbyFIRE, which may not be material in fatFIRE.
There are a lot of people in this movement who are saving and scraping every single penny to push their savings rates up, treating saving money like an Olympic event where fractions of a dollar count. But due to materiality, while this may be incredibly important during early years or low salaries, it's less important the bigger the salary.
Obviously, to hit chubbyFIRE requires a fairly high salary or a very long investment horizon.
Does this mean simple hedonic adaptation? No, it means that as one climbs the FIRE ladder without exiting (e.g. FI but not RE), because materiality of expenses changes, the opportunity to spend money while still working to improve quality of life is not necessarily a terrible or bad thing. It is not a setback, nor an impediment to a final goal (RE).
Is there a good book to study or anything that I should focus on before the internship. Any advise will be greatly appreciated.
I’ve only worked on the audit side where my clients always had messy books with so many errors and passed adjustments left and right. How do these companies figure out their correct tax liability if they’re starting with book income which is not reliable (but materially reliable for financial reporting). Do they just accept that it’s close enough? How would the IRS even audit book income unless they re-audited the entire financials.
Thanks in advance!
Apologies in advance if this isn't the right sub to ask. I'd like to see the type of questions posed to a company's employees (internal stakeholders) during an ESG materiality assessment. Does anyone have an example of how the questions are structured, how many questions are too many, and how they chose the employees to take the assessment?
To start, this company is (was) my family's company and I was offered 51% ownership four years ago, nothing was in writing ( I will never make this mistake again).
I quit my previous job, and did everything needed to start this company. Submit State documents, setup insurance policy, created applications, sent job offers to my previous employees, created the website, made marketing materials, managed Google Ads, registered the domain, created customer portals, made SOP for internal employees, G Suite admin, in addition to operational duties that fall outside of I.T.
Since Covid started my pay was cut 25% ( the max they can reduce pay while still qualifying for PPP). I have not received a pay increase since, they fired their HR person 6 months ago and dropped some of their responsibility onto me as well.
Yesterday at 1:30 (I leave the office at 1 each day), I was told there was an auditor coming to the office.
Turns out to be an external I.T. company that requires complete access to everything I have, all domains, all G Suite access, any expenses that fall under I.T.
I was told to give them super admin to G Suite and any I.T. logins, so they can see where to cut down costs and improve efficiency. (Everything I have been denied to do in my position for the last two years.)
Today, while at the airport I was told to work on my PTO to give this company access, and that I would not receive any PTO back. I said I would do it when I get back if I am not receiving any PTO back for working on my day off.
The External I.T. company used the owners login to create a super admin, and remove me as the main admin contact on G Suite.
I still have Super Admin access, but I have a feeling this is their way of getting ready for my exit.
Should I be worried about my job? Or finding a new one?
I have no certifications, I have no degree.
Everything I know I self taught, from setting up a home lab for Plex, Game Servers, Self hosted VMs for CCTV, ect.
I remember from AUD that the client is not supposed to know the exact materiality dollar amount for fraud risk purposes. I'm looking for the section of the guidance that states explicitly not to tell the client and what to do if the client learns materiality. PCAOB or AICPA applies, I don't care. Any help is welcome!
Further, what is the point of the literature search tool on the CPA exam if it doesn't exist in real life? Like am I supposed to search through each individual SSARS and SSAE file until I find what I'm looking for?
One of the problems contended by the author of the book Materiality and Architecture revolves around materiality aesthetics. Materiality or materials used in architecture for the purposes of erecting structures have undergone a lot of developments and enhancements, thanks to the changes in technology that is cutting across the board
Hello there, I am doing a survey for my Bachelor in Animation and Game studies and it would be super cool and really help me if you participate!
It is about art style and materiality in animation movie/games.
It takes around 5 minutes and is anonymous! Thank you so much!!
English version: https://forms.gle/RuUWHnomhwUqLLVx7
German version: https://forms.gle/uc3PXLHCYqxRjnFw6
Symbolic behaviour is embodied in the regulation of social relationships through the use of Minoan writing on various material surfaces. This study has shown that the modes of display of the two Minoan scripts followed different paths. It is evident that captions, so popular in Near Eastern art, were probably never used in Minoan art. The display of the developed Hieroglyphic script of the MM IIB period was mostly dictated by a standardised administrative practice. The spatial organisation of script signs on the surface of the three- and four-sided prismatic seals enabled the latter to function as hierarchical devices, which could supplement or, even, substitute writing by making impressions on clay documents. Based on present evidence, we cannot assert whether the ‘decorative’ signs carved on Hieroglyphic seals represented writing that corresponded to spoken language. Non-verbal visualisations must have been more crucial to thought for the Minoans than we are able to understand presently, as shown particularly by the example of the ‘Archanes Script Group’ seals. I would like to suggest tentatively that the solitary pictorial signs first appearing on them were understood as semasiographic codes. These codes probably stemmed from the emblematic use of Minoan seal devices at least from the late Prepalatial period. During the transition to the Protopalatial period, the borrowed symbolism of the zoomorphic or anthropomorphic seals and those recalling amulets may derive from a sophisticated manipulation of related Egyptian forms of display and ideology (cf. e.g. Baines 2004).
The integration of the earliest script (‘Archanes script’) into three-dimensional seals and its interaction with image may have further fostered the pictorial character of the Hieroglyphic signs. The earliest seals that bear the standardised ‘Archanes formula’ were possibly aimed at projecting a message of restricted use and embodied new notions of ownership among the bearers of common uninscribed seals. Thus, they might have reflected a separate grouping within the Archanes community. Whether or not they symbolised the connection of specific elites with a supernatural element, as has been proposed by Sbonias (1995: 133), the management of a symbolic resource such as writing certainly was a key feature of social competition. Furthermore, the standardisation of the shape of the i
... keep reading on reddit ➡Hi! An audit junior asking here. A business with unchanging nature. Making 36% lesser in sale (now: $8,614) and bought 1 PPE $3,000 (now total asset: $1,092,015)
Would you use total asset or total revenue as materiality benchmark?
I emailed a professor to ask about auditing/crashing a course. She said to enroll via SPIRE with the "auditing" option so I get access to the course material (readings and such). In the past, I emailed someone in the department and they gave me access to the Moodle without doing anything on SPIRE.
When you enroll via SPIRE, does it show up on your transcript? Are there other differences I should consider?
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