TY - CHAP AB - Abstract Part V analyzes the details of how to assess materiality. It first tackles qualitative versus quantitative criteria and the role of professional judgment. It then analyzes the selection of quantitative threshold, to expand to the choice of benchmarks. It contrasts the whole financial statements with subaggregates, line items, and components.Specific sections contrast IASB, FASB, SEC, and other guidance on materiality applied to comparative information, interim reporting, and segment reporting.The section on estimates mingles complex guidance coming from accounting, auditing, and internal control over financial reporting to explain how the management can improve its assessment of materiality concerning estimates.After explaining the techniques to move from individual to cumulative misstatements, the part tackles verification ex post, and finally summarizes the intricacies of whether immaterial misstatements are permissible and their consequences. SN - 978-1-78743-736-4, 978-1-78743-737-1/ DO - 10.1108/978-1-78743-736-420171012 UR - https://doi.org/10.1108/978-1-78743-736-420171012 AU - Bellandi Francesco PY - 2017 Y1 - 2017/01/01 TI - Assessing Materiality T2 - Materiality in Financial Reporting PB - Emerald Publishing Limited SP - 199 EP - 300 Y2 - 2024/03/28 ER -