the AICPA sets the standard

IFRS sets the standard

the auditor’s judgment sets the standard

The SEC sets the standard

The auditor's fee

Nature and extent of risk assessment procedures

The time necessary to perform the audit

Communication with the audit committee

Deminimis

Performance materiality

Overall materiality

None of the answer choices are correct

are affected by the size or nature of the misstatement

are made regardless of the size of the misstatement

are irrelevant to the size of the misstatement

are not affected by the size or the nature of the misstatement

Lower the materiality level but not raise it

Raise or lower the materiality level as appropriate to the situation

Raise the materiality level but not lower it

Not change the materiality level once it has been established

Information that directly impacts the income statement

Information that is likely to be viewed by a reasonable investor as altering the mix of available information

Information that meets strict thresholds predetermined

Information that is not likely to influence the decision making of an investor