Materiality

This topic has 1 reply, 2 voices, and was last updated 6 years ago by Stephen Widberg.

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May 26, 2020 at 11:10 am #571863
toushiga
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Sir, I would like to get a confirmation from you is that

The International Accounting Standards Board (Board) issued Definition of Material(Amendments to IAS 1 and IAS 8) in October 2018.

And the definition had changed,will it affect the definition in the conceptual framework(fundamental characteristic)? or only affect IAS 1 and IAS 8?

Thank you.
May 26, 2020 at 5:20 pm #571880
Stephen Widberg
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Only IAS 1 and 8 would be my understanding.

The important thing on materiality is that you know a few points about materiality from the Practice Statement (in current issues).
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