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Title: Materiality disclosures in statutory auditing : a Maltese perspective
Authors: Baldacchino, Peter J.
Tabone, Norbert
Demanuele, Ryan
Keywords: Auditing -- Malta
Materiality (Accounting)
Audit committees -- Malta
Auditing -- Quality control
Issue Date: 2017
Publisher: Ahmet Gökgöz
Citation: Baldacchino, P. J., Tabone, N., & Demanuele, R. (2017). Materiality disclosures in statutory auditing : a Maltese perspective. Journal of Accounting, Finance and Auditing Studies, 3(2), 116-157.
Abstract: Materiality is a fundamental auditing concept. The determination and application of materiality in the conduct of an external audit is regulated by International Standards on Auditing. This paper analysed the benefits and drawbacks of materiality disclosures in Maltese statutory auditing from the perspective of Maltese auditors, whilst measuring and explaining their resistance to such disclosures. A mixed-methods research design was adopted whereby data was collected from Maltese auditors first using a selfadministered questionnaire, followed by semi-structured interviews. This paper concluded that the drawbacks of disclosing materiality in Maltese statutory audit reports greatly outweighed any potential benefits that might be reaped. Maltese auditors generally resisted disclosing materiality levels mainly due to the drawbacks associated with such disclosures. This paper also concluded that materiality disclosures in the audit report should, at present, be avoided in Malta because the local market is not sufficiently mature and knowledgeable to properly understand such disclosures.
Appears in Collections:Journal of Accounting, Finance and Auditing Studies, Volume 3, Issue 2
Journal of Accounting, Finance and Auditing Studies, Volume 3, Issue 2
Scholarly Works - FacEMAAcc

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