Page 267 - AAA Integrated Workbook STUDENT S18-J19

INT syllabus: Audit of performance information in the public sector

Audit of performance information

2.1 Planning an audit of performance information

 Obtain an understanding of the information to be reported on including how it is
collected, aggregated, reporting processes, systems and controls.

 Make enquiries with management and staff to obtain an understanding of the
data and how it is processed and reported.

 Establish materiality (see below).

 Examine the processes, systems and controls in place to collect, aggregate and
report the performance information.

2.2 Materiality for non-financial information

 Materiality for non-financial information is just as important as for financial
information.

 Setting materiality for non-financial information is more difficult to apply as
compared with financial information.

 There is a risk that different assurance providers would reach different
conclusions.

 This will undermine the credibility of the report.

 One way of overcoming this issue is to disclose the materiality level used in the
assurance report.

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