IFRS Foundation publishes summary of national standard-setters research on materiality judgement
IFRS Foundation publishes summary of national standard-setters research on materiality judgement
In 2017 and 2018 the IASB clarified its definition of material and published guidance – IFRS Practice Statement 2 Making Materiality Judgements and a series of case studies related to materiality judgements. In April 2022, the IASB issued a call for research to assess the effect of this guidance on investors, companies, auditors and regulators.
Now, the IFRS Foundation has published a summary of the research conducted by national standards-setters in response to the IASB’s call for research. The research shows that there is a good understanding of the concept of materiality. The guidance, wherever used, has been found useful.
The summary of the research may be accessed here.
Now, the IFRS Foundation has published a summary of the research conducted by national standards-setters in response to the IASB’s call for research. The research shows that there is a good understanding of the concept of materiality. The guidance, wherever used, has been found useful.
The summary of the research may be accessed here.