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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Making Materiality judgments
Dear Professor,
Why is Board proposing to introduce Making Materiality judgments(MMJ)? Like i understand what’s inside it from the infoamrion given in my study text. However, Board only introduces a discussion paper when there is a flaw in current accounting standard or dearth of information.
So what triggered the need for MMJ discussion paper?
Too much disclosure in FS – so only disclose things if they are really material – key words are misstatement, omission and obscuring.
All about using better judgement
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