AUDIT RISK, MATERIALITY AND THE PROFESSIONAL JUDGEMENT
                      OF THE AUDITOR

              Assistant Ph.D. Student Horatiu Rotaru rotaru_horatiu@yahoo.com
                        The Romanian- American University, Bucharest


        Abstract: This paper refers to the auditor’s professional judgement concerning audit risk
and materiality; the opinion the author would like to highlight contains interpretation of Statement
on Auditing Standards (SAS) No. 107, Audit Risk and Materiality in Conducting the Audit; Staff
Accounting Bulletin No. 99, Materiality; SAS No. 47, Audit Risk and Materiality in Conducting an
Audit, document amended by SAS No. 82, Consideration of Fraud in a Financial Statement Audit.
        One aspect of importance, of this work, is represented by the materiality threshold, whose
use arises from the auditor’s judgment and the actions an auditor, CPA must follow besides a
mathematical measurement.

       Key words: auditor’s professional judgement, audit risk.

       Jel codes: M42, M59.




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