Clarified Auditing Standards require quantification of materiality levels, which are estimates to guide auditors' decision-making and design of auditing procedures. This estimate is only a guide and is not a specific determination of what is, and is not, material in an audit.
1 The current population of the United States of America is 324,385,585 as of Friday, August 12, 2016, based on the latest United Nations estimates.  the United States population is equivalent to 4.38% of the total world population.
The U.S. is growing, and the world is growing faster. The U.S. entered 2016 with an estimated population of 322,762,018 according to an end-of-year estimate from the U.S. Census Bureau, meaning that we added more than 2.4 million people to the population over the course of the year.