Performance materiality in an audit of the financial statements Represents the maximum error in a...
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Performance materiality in an audit of the financial statements Represents the maximum error in a population that the auditor is willing to accept. Should be established at an amount less than materiality for the financial statements as a whole. Will be higher than the materiality levels set for classes of transactions, account balances, and disclosures. Is established at specific percentages for the various accounts based on their magnitude. 
Performance materiality in an audit of the financial statements
Represents the maximum error in a population that the auditor is willing
to accept.
Should be established at an amount less than materiality for the
financial statements as a whole.
Will be higher than the materiality levels set for classes of transactions,
account balances, and disclosures.
Is established at specific percentages for the various accounts based on
their magnitude.
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