Comment Letter - ASB proposed revision to definition of materiality

2 Aug 2019 PDF
Subject AccountingLink
Publications Comment Letters


In our comment letter, we support the ASB’s efforts to align the materiality concepts discussed in AICPA Professional Standards with the definition of materiality used by the US Supreme Court, the auditing standards of the PCAOB, the SEC and the FASB. However, we do not support some aspects of the proposal and believe some proposed amendments require clarification.

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