Making Materiality Judgements

The AASB has released a Practice Statement on the subject of Making Materiality Judgements (AASB Practice Statement 2).  The Standard on Materiality was superseded some time ago and the concept has been incorporated into AASB 108: Accounting Policies, Changes in Accounting Estimates and Errors.  The Practice Statement provides guidance to those making decisions on the presentation of financial information such as directors and financial controllers.

A link to the Statement is

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