Materiality Planning Percent Benchmark Lookup
Compute observed benchmark/rate planning candidates and explicitly selected caller performance materiality policy; no universal audit percentage, benchmark recommendation or professional-judgment substitution.
Description
Planning materiality can be evaluated across several supplied benchmark/rate combinations.
Planning materiality can be evaluated across several supplied benchmark/rate combinations. Performance materiality applies a separate selected policy fraction.1
The returned values include Planning materiality candidates minor, Selected planning materiality minor, Caller performance materiality minor. The How section below explains the calculation, input rules and interpretation.
When to use Materiality Planning Percent Benchmark Lookup
Use Materiality Planning Percent Benchmark Lookup when you need to evaluate the supplied records under the calculation and evidence rules below. No universal percentage, recommended benchmark or professional-judgment replacement is supplied.
Gather the source balances and explicit accounting policy. Monetary inputs use integer minor units in one currency; for a currency with 100 minor units per major unit, 12345 represents 123.45. One basis point is 0.01 percentage points; 10000 basis points is 100%. Dates and posting signs follow the individual rules below.
How to use Materiality Planning Percent Benchmark Lookup and understand its results
- Gather the source balances and explicit accounting policy. Monetary inputs use integer minor units in one currency; for a currency with 100 minor units per major unit, 12345 represents 123.45. One basis point is 0.01 percentage points; 10000 basis points is 100%. Dates and posting signs follow the individual rules below.
- Enter callerBenchmarkValuesMinor, callerPlanningBasisPoints, selectedBenchmarkIndex, callerPerformanceMaterialityBasisPoints using the field table and calculation rules, then run the tool.
- Read planningMaterialityCandidatesMinor, selectedPlanningMaterialityMinor, callerPerformanceMaterialityMinor. The explanation below defines the units, signs, ordering and any flags or placeholder values.
- If the tool reports an input issue, correct the values and run it again. Apply the stated assumptions when interpreting a successfully returned result.
| Input field | Meaning | Value type; see rules below | Requirement |
|---|---|---|---|
| callerBenchmarkValuesMinor | Caller benchmark values minor | list of number | Required |
| callerPlanningBasisPoints | Caller planning basis points | list of number | Required |
| selectedBenchmarkIndex | Selected benchmark index | number | Required |
| callerPerformanceMaterialityBasisPoints | Caller performance materiality basis points | number | Required |
Enter aligned nonempty nonnegative safe-integer benchmarks and integer planning basis points 0–10000, a valid zero-based selected index and integer performance basis points 0–10000. Round each candidate independently with half ties away from zero; return candidates, selected amount and rounded performance materiality.
candidate_i=roundMinor(benchmark_i×planningBps_i/10000); performance=roundMinor(selected×performanceBps/10000) Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.
| Output field | Meaning | Value type |
|---|---|---|
| planningMaterialityCandidatesMinor | Planning materiality candidates minor | list of number |
| selectedPlanningMaterialityMinor | Selected planning materiality minor | number |
| callerPerformanceMaterialityMinor | Caller performance materiality minor | number |
{
"input": {
"callerBenchmarkValuesMinor": [
10000,
20000
],
"callerPlanningBasisPoints": [
500,
100
],
"selectedBenchmarkIndex": 0,
"callerPerformanceMaterialityBasisPoints": 7500
},
"output": {
"planningMaterialityCandidatesMinor": [
500,
200
],
"selectedPlanningMaterialityMinor": 500,
"callerPerformanceMaterialityMinor": 375
}
}Limitations and assumptions
No universal percentage, recommended benchmark or professional-judgment replacement is supplied.
Numeric inputs, where present, must be finite. Follow the calculation-specific rules for overflow, underflow and exceptional cases. Numeric lists are limited to 10,000 entries and string lists to 128 entries of at most 128 characters. Follow any smaller limits above. Missing fields without a declared default, extra fields, wrong value types and violations of the calculation rules are input errors.
Alternative or Complementary methods
Use Unadjusted Misstatement Summary Pass-Fail Evaluation: Signed misstatements can offset in a net aggregate. A safety margin reduces the amount available for this quantitative comparison. For a complementary task, use Sample Evaluation Upper Misstatement Limit Computation: A projected sample misstatement and sampling-risk allowance can be combined with other known errors for an upper-limit comparison.
References
Similar or alternative tools
- Unadjusted Misstatement Summary Pass-Fail Evaluation
Signed misstatements can offset in a net aggregate. A safety margin reduces the amount available for this quantitative comparison.
- Sample Evaluation Upper Misstatement Limit Computation
A projected sample misstatement and sampling-risk allowance can be combined with other known errors for an upper-limit comparison.