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Current Version 05/2022

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Instructions
Do not copy and paste this form, or import duplicate copies of this form from the Document Library, which would result in multiple versions
existing in one CaseWare file. Doing so will result in errors when performing your engagement and when the form is updated.
See GAM 320, Materiality, for requirements and application guidance.

Tailoring Questions
1 In what currency are the financial statements presented? Currency Unit
Currency code: CUU
2. Will preliminary (i.e., interim or projected) amounts be used to calculate a preliminary materiality? Yes

Overall Materiality
Primary Users Factors

Identify the primary users of the financial statements and Shareholders Revenue growth is know to be a target for the business.
describe the factors that influence their decision-making.

Select a benchmark to use for calculating materiality. Total Revenue

Explain why the benchmark was chosen. Trading entity, so revenue is a good measure of activity. Also known to be a key KPI.

If a different benchmark from the prior period was chosen, N/A

explain the reason for the change.

Current Period Current Period

Preliminary Amount Final Amount Prior Period

Enter the benchmark amount. 112,014,000 - -

Describe how the current period benchmark was Revenue figure per draft financial statements
calculated.
Overall materiality (calculated automatically) 1,992,710 0
Rounded down 1,120,000 0 -
Is overall materiality as set out above appropriate, taking into consideration the interests of the users and the particular Yes
characteristics of the entity?
Document any other specific comments or explanations Materiality has been set at 1% of Revenue given the hightened focus on this
with regard to materiality here, including references to figure
additional work papers as needed. This may be useful in
situations such as group audits or where multiple periods
are being audited in one file.

Performance Materiality
% Preliminary Final

Performance materiality 75 % 840,000 0

Rounded down 840,000 0

Clearly Trivial Threshold

% Preliminary Final

Clearly trivial threshold 1% 11,200 0

Rounded down 5,000 0

Explain the basis for using a percentage less than 5%. Discussed with AL and this is the level the client would like issues to be reported to them.

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Specific Materiality
Are there any balances which require a specific materiality? No

Component Materiality
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Component materiality is determined for those components whose financial information will be audited or reviewed as part of the group audit and is
used by the auditor to evaluate whether uncorrected misstatements are material, individually and in the aggregate.
The components which should be included in the MACM calculation are defined in section 600.21c as “those components where component auditors
will perform an audit or a review for purposes of the group audit.”
This includes any scenario in which component materiality is required to be calculated, including:
• For components which are significant due to size
• For components which are significant due to risk
• Where an audit or review of the financial information of the component is being performed because sufficient audit confidence from a group
perspective will not be obtained from the audit of components which are significant due to size or risk
Component materiality need not be an arithmetical portion of the materiality for the group financial statements as a whole and, consequently, the
aggregate of component materiality for the different components may exceed the materiality for the group financial statements as a whole. The auditor
should use judgment when determining component materiality.
When components are accounted for under the equity method, the FAQs in Practice Aid 19, Group Audits, provide guidance.
This section is hidden because you indicated in the Optimizer Checklist that this is not a group audit.

Sign-offs
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Prepared by AW 16/08/2022

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In-Chrg Review
Manager Review JO 16/08/2022
Partner Review BL 16/08/2022
EQCR Review
Other Review
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