An International Comparison of Materiality Guidance for Governments, Public Services, and Charities
This article compares international and country–specific guidance associated with the materiality concept as it applies to the public sector and charitable entities. The proliferation of multiple terms with similar meanings is evidenced in Australia, Canada, New Zealand, the United Kingdom – England, Ireland and Scotland – and international guidance. Alignment of terminology could enhance harmonization of standards and increase the chances that application of standards is comparable. Conceptual dimensions of materiality in the public sector emphasize qualitative considerations such as legal compliance, fiduciary responsibility, timeliness, and follow–up.
Financial Accountability and Management
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