This paper reviews the accounting and auditing definitions on materiality. The International Standard of Auditing (ISA) 320 'Materiality in planning and performing an audit' defines performance materiality as "the amount or amounts set by the auditor at less than materiality for the financial...

Independence and objectivity are essential credibility elements for the audit reports. A lack of literature on the independence of the Chinese National Audit Office (CNAO) prompted this paper to fill the void. Based on the audit reports submitted to the Chinese Congress, the CNAO has exhibited...