Risco de auditoria e cálculo da materialidade

Abstract

Materiality in auditing is a concept that relies on each audit professional's judgement, thus making its practical application difficult. Its determination depends not only on the quantitative factors associated with the financial statements, but also on external factors, at the level of the audited company, the auditing company, and the intrinsic characteristics of the auditor himself. This dissertation aims to understand the main quantitative factors that determine the calculation of materiality, as well as understand what other determinants influence the auditor's judgment. On the other hand, it aims to clarify the relationship between the determination of materiality and audit risk. Through the literature, we can conclude that materiality is an essential concept, and its definition can influence the course of the audit. At a quantitative level, auditors use indicators and apply a percentage. The application of this This application and the choice of indicator varies according to various factors, one of them being the risk of an incorrect opinion being issued regarding the financial statements (audit risk). In other words, the higher the audit risk, the lower the percentage to apply, and vice-versa, since the lower the materiality, the more procedures are performed and there is a higher probability of identifying distortions. We conducted a questionnaire to 202 Official Audit Companies in Portugal, from which we obtained 29 responses. Through the analysis of these, we verified that the main quantitative indicators used by auditors are the turnover, the result before taxes, and the total assets. The qualitative indicators are of extreme relevance to the respondents, influencing the choice of quantitative factors to use, as well as the percentage to apply. The sample considers the client's sector, the internal control system, and the needs of the users of the financial statements as the main factors. We can conclude that the auditor's professional judgment is influenced by professional experience and that all of the auditing firms of those questioned present internal standards that guide the process of determining materiality, standardizing the process, at least internally.

Date of Award	17 Jul 2024
Original language	Portuguese
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Ricardo Cunha (Supervisor)