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Materiality

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

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by AvatarStephen Widberg.
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  • May 26, 2020 at 11:10 am #571863
    Avatartoushiga
    Participant
    • Topics: 424
    • Replies: 171
    • ☆☆☆☆

    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
    AvatarStephen Widberg
    Keymaster
    • Topics: 17
    • Replies: 3452
    • ☆☆☆☆☆

    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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