Stability of Indicators Sample Clauses

Stability of Indicators. Gross revenue and total assets remained stable indicators for Mintek despite the volatile economic conditions of recent years and will therefore be used in the calculation of materiality. The gross revenue for the first 6 months of a previous financial year would be considered during the midterm review and a forecast would be made that appear to be indicative of the likely results for the year. Net income should be disregarded as Mintek is not a profit making institution, and there are fluctuations and many dependencies that influence this figure. Mintek has historically used a rate of 0.3% in calculating the materiality level. This is within the range specified above of 0.2% - 1% of gross revenue and provides a level that is acceptable both quantitatively and qualitatively.
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