UK Accounting Glossary
Information is material if its omission or misstatement could influence the economic decisions of users taken on the basis of the financial statements.
Within auditing and accounting, Materiality is a concept or convention relating to the importance/significance of an amount, transaction, or discrepancy.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Materiality are sourced/syndicated and enhanced from:
This glossary post was last updated: 23rd December 2018.