CAS 320: Materiality in Planning and Performing an Audit
Requires the auditor to determine materiality for the financial statements as a whole, performance materiality, and any materiality for particular classes of transactions, account balances, or disclosures.
Why CAS 320 matters
Materiality benchmarks anchor every sampling decision and adjustment threshold. A wrong benchmark cascades into hundreds of hours of mis-scoped procedures.
Framework: Canadian Auditing Standards (CAS)
CAS are the auditing standards adopted by the Auditing and Assurance Standards Board (AASB) of CPA Canada. They are Canadian adoptions of the IAASB's International Standards on Auditing (ISAs) and govern every audit of financial statements performed in Canada.
Primary source: FRAS Canada
Frequently asked
What is CAS 320?
Requires the auditor to determine materiality for the financial statements as a whole, performance materiality, and any materiality for particular classes of transactions, account balances, or disclosures.
Why does CAS 320 matter for an audit?
Materiality benchmarks anchor every sampling decision and adjustment threshold. A wrong benchmark cascades into hundreds of hours of mis-scoped procedures.
Which framework does CAS 320 belong to?
CAS 320 falls under Canadian Auditing Standards (CAS). CAS are the auditing standards adopted by the Auditing and Assurance Standards Board (AASB) of CPA Canada. They are Canadian adoptions of the IAASB's International Standards on Auditing (ISAs) and govern every audit of financial statements performed in Canada.
Related standards — Canadian Auditing Standards (CAS)
- CAS 200 — Overall Objectives of the Independent Auditor
- CAS 210 — Agreeing the Terms of Audit Engagements
- CAS 220 — Quality Management for an Audit of Financial Statements
- CAS 230 — Audit Documentation
- CAS 240 — The Auditor's Responsibilities Relating to Fraud
- CAS 250 — Consideration of Laws and Regulations
See how Auditus checks CAS 320
Auditus.ai runs PCAOB, ISA, and CAS engagements end-to-end and cites the exact standard behind every finding — including CAS 320.