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CALIFORNIA CORPORATE & SECURITIES LAW

Materiality – “Shoulda, Coulda, Woulda?”

John Jenkins recently took note of this letter from the SEC’s Office of Investor Advocate commenting on a proposal by the Financial Accounting Standards Board to amend the definition of “materiality” in Concepts Statement No. 8, Conceptual Framework for Financial Reporting.  That Concepts Statement currently defines “materiality” as follows: Information is material if omitting it or…

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