SA 320 mandates that materiality be set before fieldwork begins, documented with rationale, and locked. CORAA's three-step wizard guides the benchmark choice, PBT, Turnover, or Equity, applies the percentage, derives Performance Materiality and Clearly Trivial Threshold, and locks the memo. Out-of-band percentages require written rationale captured in the ଅଡିଟ୍ ଟ୍ରେଲ୍ per SA 230.
Two paths to the same audit conclusion. One leaves traces; the other doesn't.
SA 320 · CORAA ।
A slider with the ICAI 3-10% band shaded. Selections inside the band require ନା rationale. Selections outside the band require a written justification before the wizard advances. Resulting Overall Materiality renders immediately.
Performance Materiality at 50-75% of OM (SA 320 A12), 75% default for low-risk ଏଙ୍ଗେଜମେଣ୍ଟ୍, 50% for higher-risk. Clearly Trivial Threshold at typically 5% of OM. Both rendered on sliders. Lock the memo when satisfied.
SA 320 · CORAA ।
Once locked, the materiality memo is read-only. Sampling, ନିଷ୍କର୍ଷ classification, and Opinion sign-off all consume the locked numbers. Revision requires a documented re-evaluation note explaining what changed and why.
Performance Materiality (PM) is the buffer used for individual ପ୍ରକ୍ରିୟା, 50-75% of Overall Materiality per SA 320 A12. Clearly Trivial Threshold (CTT) is the de minimis floor, typically 5% of OM. CORAA derives both with explicit ratios and lets the ଅଡିଟର୍ adjust within the band.
The memo and ଅଡିଟ୍ ଟ୍ରେଲ୍ satisfy NFRA inspection and peer review requirements, benchmark choice documented, percentage band-justified, PM/CTT rationale captured, every revision ସମୟ-stamped per SA 230.
