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Making Materiality judgments

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Making Materiality judgments

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by AvatarStephen Widberg.
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  • June 7, 2021 at 11:22 am #623631
    AvatarJiya024
    Member
    • Topics: 168
    • Replies: 56
    • ☆☆☆

    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?

    June 7, 2021 at 4:23 pm #623697
    AvatarStephen Widberg
    Keymaster
    • Topics: 17
    • Replies: 3449
    • ☆☆☆☆☆

    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

    Read examiner article BIN THE CLUTTER

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