Professional Documents
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Materiality 01-03-21
Materiality 01-03-21
PERFORMANCE MATERIALITY
Tolerable Misstatement
/TOLERABLE MISTATEMENT
HEAD OF ACCOUNT AMOUNT PKR
PERFORMANCE
Risk Level RATE MATERIALITY
% AMOUNT PKR
Property, plant and equipment 7,405,042,347 Low 70% 75,603,434 75% 56,702,576
Investment property 712,500 Low 70% 75,603,434 75% 56,702,576
Security deposits 9,407,997 Low 70% 75,603,434 75% 56,702,576
Biological assets 2,035,850,395 High 50% 54,002,453 75% 40,501,840
Inventories 4,514,980,086 Moderate 60% 64,802,944 75% 48,602,208
Trade and other receivables 2,538,015,656 Moderate 60% 64,802,944 75% 48,602,208
Advances, deposits and prepayments 1,178,010,941 Moderate 60% 64,802,944 75% 48,602,208
Tax refunds due from the Government, 628,286,628 Low 70% 75,603,434 75% 56,702,576
income tax
Cash and bank balances 207,048,827 Low 70% 75,603,434 75% 56,702,576
Long term financing 258,869,505 Low 70% 75,603,434 75% 56,702,576
Deferred income - Government grant 7,151,202 Low 70% 75,603,434 75% 56,702,576
Liability against assets subject to 173,596,645 Low 70% 75,603,434 75% 56,702,576
finance lease
Diminishing musharakah finance 225,000,000 Low 70% 75,603,434 75% 56,702,576
Trade and other payables 3,175,102,696 Moderate 60% 64,802,944 75% 48,602,208
Accrued mark-up 223,789,074 Moderate 60% 64,802,944 75% 48,602,208
Short-term borrowings 7,189,845,620 Low 70% 75,603,434 75% 56,702,576
Revenue 27,278,745,840 Moderate 60% 64,802,944 75% 48,602,208
Gain on fair value measurement of 666,793,713 High 50%
biological assets 54,002,453 75% 40,501,840
Cost of sales 24,888,300,581 Moderate 60% 64,802,944 75% 48,602,208
Distribution cost 271,520,339 Low 70% 75,603,434 75% 56,702,576
Administrative expenses 687,869,221 Low 70% 75,603,434 75% 56,702,576
Other income 61,488,079 Low 70% 75,603,434 75% 56,702,576
Other expenses 53,584,178 Low 70% 75,603,434 75% 56,702,576
Finance cost 1,178,964,212 Moderate 60% 64,802,944 75% 48,602,208
PERFORMANCE MATERIALITY
Tolerable Misstatement
/TOLERABLE MISTATEMENT
HEAD OF ACCOUNT AMOUNT PKR
PERFORMANCE
Risk Level RATE MATERIALITY
% AMOUNT PKR
Property, plant and equipment 7,560,272,874 Low 70% 92,912,928 75% 69,684,696
Long term investments 1,012,000,000 Low 70% 92,912,928 75% 69,684,696
Investment property 712,500 Low 70% 92,912,928 75% 69,684,696
Security deposits 4,066,500 High 50% 66,366,377 75% 49,774,783
Biological assets 2,911,856,135 Moderate 60% 79,639,652 75% 59,729,739
Inventories 3,191,620,564 Moderate 60% 79,639,652 75% 59,729,739
Trade and other receivables 1,617,241,541 Moderate 60% 79,639,652 75% 59,729,739
Advances, deposits and prepayments 671,094,104 Low 70% 92,912,928 75% 69,684,696
Tax refunds due from the Government, Low 92,912,928 75% 69,684,696
income tax 425,681,594 70%
Cash and bank balances 254,184,416 Low 70% 92,912,928 75% 69,684,696
Long term financing 207,523,478 Low 70% 92,912,928 75% 69,684,696
Deferred income - Government grant 3,808,800 Low 70% 92,912,928 75% 69,684,696
Liability against assets subject to 152,437,011 Low 70% 92,912,928 75% 69,684,696
finance lease
Diminishing musharakah finance 75,000,000 Moderate 60% 79,639,652 75% 59,729,739
Trade and other payables 2,661,445,928 Moderate 60% 79,639,652 75% 59,729,739
Accrued mark-up 103,927,063 Low 70% 92,912,928 75% 69,684,696
Short-term borrowings 5,373,921,165 Moderate 60% 79,639,652 75% 59,729,739
Revenue 37,878,275,181 High 50% 66,366,377 75% 49,774,783
Gain on fair value measurement of 2,577,927,774 Moderate 60% 79,639,652 75% 59,729,739
biological assets
Cost of sales 36,870,010,616 Low 70% 92,912,928 75% 69,684,696
Distribution cost 350,057,869 Low 70% 92,912,928 75% 69,684,696
Administrative expenses 770,866,811 Low 70% 92,912,928 75% 69,684,696
Other income 113,605,615 Low 70% 92,912,928 75% 69,684,696
Other expenses 127,977,888 Moderate 60% 79,639,652 75% 59,729,739
Finance cost 681,143,494 High 50% 66,366,377 75% 49,774,783
RELEVENT PLANNING/REPORTING
MATERIALITY
HEAD OF ACCOUNT AMOUNT MATERIALIT MATERIALITY (Average
LEVEL
Y BASE Blending Rule)