Page 110 - CA Final PARAM Digital Book.
P. 110
The auditor shall revise materiality for the financial statements in the event of becoming aware of
information during the audit that would have caused the auditor to have determined a different amount (or
amounts) initially.
If the auditor concludes a lower materiality for the same, then he should consider the fact that whether it is
necessary to revise performance materiality and whether the nature, timing and extent of the further audit
procedures remain appropriate.
Thus, Mr. P can re-evaluate the materiality concepts after considering the necessity of such revision.
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