IPCO and Immaterial: Difference between pages
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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.'' | |||
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. | |||
== See also == | == See also == | ||
*[[ | * [[Financial reporting]] | ||
* [[Materiality]] | |||
* [[Risk management]] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | |||
[[Category:Identify_and_assess_risks]] | |||
[[Category:Manage_risks]] | |||
[[Category:Risk_frameworks]] | |||
[[Category:Risk_reporting]] |
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.