Immaterial: Difference between revisions
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imported>Doug Williamson (Create page. Sources: linked pages.) |
imported>Doug Williamson (Distinguish risk management and financial reporting contexts.) |
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''Risk management - financial reporting.'' | ''Risk management - financial reporting.'' | ||
Immaterial risks are ones that do not require active risk management, because of their size, likelihood | Immaterial risks are ones that do not require active risk management, because of their small size, low likelihood or both. | ||
Revision as of 17:01, 16 June 2021
Risk management - financial reporting.
Immaterial risks are ones that do not require active risk management, because of their small size, low likelihood or both.
In financial reporting, immaterial items do not need to be accounted for or disclosed separately.
Items may be material by size, or material by their nature.
Immaterial items are sometimes known as non-material items.
