Glossary entry (derived from question below)
English term or phrase:
component materiality
Polish translation:
istotność / ważność elementów składowych
Added to glossary by
Roman Kozierkiewicz
May 17, 2017 17:45
7 yrs ago
15 viewers *
English term
component materiality
English to Polish
Bus/Financial
Accounting
audyt
The component materiality applied ranged from X% to Y% of Z's materiality, dependent on our assessment of risks specific to each location and based on the component’s revenue and underlying pre-tax profit contribution.
Proposed translations
(Polish)
| 3 +1 | istotność / ważność elementów składowych |
Roman Kozierkiewicz
|
| 5 | Istotność części grupy |
G_Stepniak (X)
|
| 3 | materialność składników audytu |
Frank Szmulowicz, Ph. D.
|
References
| Materiality (auditing) |
Frank Szmulowicz, Ph. D.
|
Change log
May 20, 2017 15:48: Roman Kozierkiewicz Created KOG entry
May 20, 2017 15:48: Roman Kozierkiewicz changed "Edited KOG entry" from "<a href="/profile/126672">Roman Kozierkiewicz's</a> old entry - "component materiality"" to ""istotność / ważność elementów składowych""
Proposed translations
+1
40 mins
Selected
istotność / ważność elementów składowych
Propozycja
4 KudoZ points awarded for this answer.
Comment: "Dziękuję."
7 hrs
Frank Szmulowicz, Ph. D.
United States
United States
Native in English
&
Polish
Works in field
United States
On time, on target, on budget.
Native in: English 
, Polish
Works in: Polish to English, English to Polish, Russian to Polish, and 1 more.
Related KudoZ points
:
157
materialność składników audytu
Celem audytu jest podniesienie poziomu zaufania użytkowników sprawozdania finansowego do informacji w nim przedstawionych poprzez wydanie niezależnej opinii na temat zgodności sprawozdania finansowego z przyjętymi zasadami jego przygotowania (e.g. MSSF) z uwzględnieniem materialności oraz ograniczeń audytu
Koncepcja materialności
Nieprawidłowości w sprawozdaniu finansowym uznawane są za materialne jeżeli w pojedynkę albo w kumulacji mogą mieć wpływ na decyzje ekonomiczne użytkownika sprawozdania finansowego. Materialność ma zastosowanie na wszystkich etapach przeprowadzania audytu nie tylko przy formułowaniu opinii po audytowej.
http://www.tomaszwesol.com/2013/09/isa-200-cele-niezaleznego...
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Transakcje na relatywnie niskie kwoty (poniżej określonego progu) zazwyczaj nie są szczegółowo analizowane (tzw. „niska materialność”). Ze względu na poziom materialności są również często pomijane w czasie audytu finansowego. Jeśli dostęp do systemu nie jest na bieżąco analizowany i aktualizowany, to taki proceder może trwać wręcz latami i przynieść spółce w długim okresie znaczące straty.
https://www.blog.ey.pl/audytsledczy/naduzycia-gospodarcze-za...
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Materiality
For example, performance materiality is set by the auditor at less than materiality for the financial statements as a whole to reduce aggregation risk (i.e., “the risk that the aggregate of uncorrected and undetected misstatements in the financial statements exceeds materiality for the financial statements as a whole”) to an acceptably low level. -
component materiality
Paragraph .32(c) of AU-C Section 600 requires the group engagement team to establish or approve appropriate materiality levels for significant components for which the team is assuming responsibility.
The group engagement team is not required to determine materiality for those components for which the group auditor is referring to the work of a component auditor. In such cases, the component auditor is taking responsibility for determining the materiality of the component.
Nor is the group engagement team required to determine materiality for those components for which only analytical procedures at the group level will be performed.
To determine materiality for components, AU-C Section 600 provides the following requirements and guidance:
Individual component materiality and individual component performance materiality should be lower than group materiality and group performance materiality, respectively, to reduce aggregation risk.
All components (regardless of whether the group auditor is referring to the work of a component auditor) should be considered when determining component materiality.
Different materiality levels may be established for different components.
The aggregate component materiality (the sum of individual component materiality amounts) may exceed group materiality since component materiality need not be an arithmetical portion of the group materiality threshold.
Individual component materiality thresholds in a group audit may differ from the materiality threshold established for a separate audit of the stand-alone financial statements of a component.
- See more at: http://www.journalofaccountancy.com/news/2014/aug/group-audi...
Koncepcja materialności
Nieprawidłowości w sprawozdaniu finansowym uznawane są za materialne jeżeli w pojedynkę albo w kumulacji mogą mieć wpływ na decyzje ekonomiczne użytkownika sprawozdania finansowego. Materialność ma zastosowanie na wszystkich etapach przeprowadzania audytu nie tylko przy formułowaniu opinii po audytowej.
http://www.tomaszwesol.com/2013/09/isa-200-cele-niezaleznego...
ccccccccccccc
Transakcje na relatywnie niskie kwoty (poniżej określonego progu) zazwyczaj nie są szczegółowo analizowane (tzw. „niska materialność”). Ze względu na poziom materialności są również często pomijane w czasie audytu finansowego. Jeśli dostęp do systemu nie jest na bieżąco analizowany i aktualizowany, to taki proceder może trwać wręcz latami i przynieść spółce w długim okresie znaczące straty.
https://www.blog.ey.pl/audytsledczy/naduzycia-gospodarcze-za...
ccccccc
Materiality
For example, performance materiality is set by the auditor at less than materiality for the financial statements as a whole to reduce aggregation risk (i.e., “the risk that the aggregate of uncorrected and undetected misstatements in the financial statements exceeds materiality for the financial statements as a whole”) to an acceptably low level. -
component materiality
Paragraph .32(c) of AU-C Section 600 requires the group engagement team to establish or approve appropriate materiality levels for significant components for which the team is assuming responsibility.
The group engagement team is not required to determine materiality for those components for which the group auditor is referring to the work of a component auditor. In such cases, the component auditor is taking responsibility for determining the materiality of the component.
Nor is the group engagement team required to determine materiality for those components for which only analytical procedures at the group level will be performed.
To determine materiality for components, AU-C Section 600 provides the following requirements and guidance:
Individual component materiality and individual component performance materiality should be lower than group materiality and group performance materiality, respectively, to reduce aggregation risk.
All components (regardless of whether the group auditor is referring to the work of a component auditor) should be considered when determining component materiality.
Different materiality levels may be established for different components.
The aggregate component materiality (the sum of individual component materiality amounts) may exceed group materiality since component materiality need not be an arithmetical portion of the group materiality threshold.
Individual component materiality thresholds in a group audit may differ from the materiality threshold established for a separate audit of the stand-alone financial statements of a component.
- See more at: http://www.journalofaccountancy.com/news/2014/aug/group-audi...
632 days
Istotność części grupy
Z glosariusza IAAS (International Auditing and Assurance Standards): "Component = an entity or business activity for which group or component management prepares financial information that should be included in the group financial statements. W oficjalnym polskim tłumaczeniu standardów zawodowych przyjęto określenie "część grupy"
IAAS: "Component materality = the materiality for the component determined by the group engagement team". W oficjalnym tłumaczeniu "Istotność części grupy".
Do sprawdzenia na stronie Polskiej Izby Biegłych Rewidentów.
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Note added at 632 days (2019-02-09 16:41:21 GMT) Post-grading
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Chodzi o istotność spółki wchodzącej w skład grupy kapitałowej dla sprawozdań finansowych całej grupy, tj. czy spółka ta ma duże obroty, stanowi duże ryzyko, itp. i dlatego też trzeba lub nie trzeba (w zależności od stopnia istotności) poddać ją badaniu.
IAAS: "Component materality = the materiality for the component determined by the group engagement team". W oficjalnym tłumaczeniu "Istotność części grupy".
Do sprawdzenia na stronie Polskiej Izby Biegłych Rewidentów.
--------------------------------------------------
Note added at 632 days (2019-02-09 16:41:21 GMT) Post-grading
--------------------------------------------------
Chodzi o istotność spółki wchodzącej w skład grupy kapitałowej dla sprawozdań finansowych całej grupy, tj. czy spółka ta ma duże obroty, stanowi duże ryzyko, itp. i dlatego też trzeba lub nie trzeba (w zależności od stopnia istotności) poddać ją badaniu.
Reference comments
3 hrs
Frank Szmulowicz, Ph. D.
United States
United States
Native in English
&
Polish
Works in field
United States
On time, on target, on budget.
Native in: English , Polish
Works in: Polish to English, English to Polish, Russian to Polish, and 1 more.
Related KudoZ points
:
157
Reference:
Materiality (auditing)
Materiality is a concept or convention within auditing and accounting relating to the importance/significance of an amount, transaction, or discrepancy.[1] The objective of an audit of financial statements is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in conformity with an identified financial reporting framework such as Generally Accepted Accounting Principles (GAAP).
As a simple example, an expenditure of ten cents on paper is generally immaterial, and, if it were forgotten or recorded incorrectly, then no practical difference would result, even for a very small business. However, a transaction of many millions of dollars is almost always material, and if it were forgotten or recorded incorrectly, then financial managers, investors, and others would make incorrect decisions as a result of this error. The assessment of what is material – where to draw the line between a transaction that is big enough to matter or small enough to be immaterial – depends upon factors such as the size of the organization's revenues and expenses, and is ultimately a matter of professional judgment.[2]
https://en.wikipedia.org/wiki/Materiality_(auditing)
As a simple example, an expenditure of ten cents on paper is generally immaterial, and, if it were forgotten or recorded incorrectly, then no practical difference would result, even for a very small business. However, a transaction of many millions of dollars is almost always material, and if it were forgotten or recorded incorrectly, then financial managers, investors, and others would make incorrect decisions as a result of this error. The assessment of what is material – where to draw the line between a transaction that is big enough to matter or small enough to be immaterial – depends upon factors such as the size of the organization's revenues and expenses, and is ultimately a matter of professional judgment.[2]
https://en.wikipedia.org/wiki/Materiality_(auditing)
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