EY'er here. Have a contact at a client from Pwc who is pushing back on our audit materiality. Using pre tax income. He says should be using ebitda. Would pwc guidance permit that? Tech client with large pre tax income but material amortization as a result of prior acquisitions.
Pwc guidance does not permit that but I agree with the comment above
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Professional judgement. If you can make the case that the financial statement users care more about EBITDA than pre-tax income than you go with that. There is no wrong or right answer except you should always first consider income based numbers when determining materiality.