334 paragraphs found
The criteria, such as those outlined in AWAS 1, may discuss the concept of materiality in the context of the preparation and presentation of the general purpose water accounting report. Although criteria may discuss materiality in different terms, the …
The discussion in AWAS 1, together with the characteristics described in paragraph A32, provide a frame of reference to the assurance practitioner in determining materiality for the …
Materiality relates to the water assets and water liabilities covered by the assurance practitioner's conclusion. Therefore, materiality is set in relation to the water accounting statements, note disclosures and the accountability statement and not the …
The assurance practitioner's determination of materiality is a matter of professional judgement, and is affected by the assurance practitioner's perception of the common information needs of intended users as a …
In this context, it is reasonable for the assurance practitioner to assume that intended users: Have a reasonable knowledge of water accounting and reporting, and a willingness to study the information in the general purpose water accounting report with …
Intended users and their information needs may include, for example: [ 28] State and Territory government agencies, whose information needs may relate to policy development. Urban and rural water utilities, whose information needs may relate to the …
The Water Accounting Conceptual Framework the Preparation and Presentation of General Purpose Water Accounting Reports …
While judgements about materiality are made in light of surrounding circumstances, and are affected by both quantitative and qualitative factors, it should be noted, that decisions regarding materiality are not affected by the level of assurance, that is, …
Quantitative factors may involve: Applying a percentage to a chosen benchmark as a starting point in determining materiality. Factors that may affect the identification of an appropriate benchmark and percentage include: The elements of the general …
Qualitative factors may include: The types of water assets and water liabilities involved. The context in which the information in the general purpose water accounting report will be used (for example, for submission to a regulator or policy maker, or for …