Botha, W.J.J. (Willem Johannes Jacobus)2010-09-132010-09-132000Botha, W 2000, 'The normative acceptability of SAAS 320 audit materiality', Auditing SA, pp. 20-22. [http://www.saiga.co.za/publications-auditingsa.htm]1028-9003http://hdl.handle.net/2263/14824The process by which an organisation's financial statements are audited by external auditors can be described as a risk-based, systematic approach in which the nature, extent and timing of the audit procedures and audit evidence required, are determined by assessing and evaluating the risk that the financial statement assertions are materiality misstated. In fact, when the external auditor issues a standard unqualified audit report on the financial statements, he/she is confirming, with a high degree of assurance based on persuasive evidence gathered during the audit, that the financial statements are free of material misrepresentations, taking cognisance of the fact that the financial statements are presented in accordance with a specified set(s) of criteria.enSouthern African Institute of Government AuditorsAudit materialityExternal auditMateriality (Accounting) -- Risk assessmentAudited financial statementsArticle