Materiality and Member-administered closed user group: Difference between pages

Latest revision as of 05:37, 27 June 2022

(MA-CUG).

Companies can gain direct access to SWIFT via a MA-CUG sponsored by their bank.

However, unlike SCORE, a company can only communicate with its sponsoring bank.

It has to join a MA-CUG for each bank with which it wants to communicate.

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-This is a threshold at which insignificance becomes significance.
+(MA-CUG).
-Often it is defined for particular circumstances in loan agreements, for example cross default shall not apply for late payment of a trade creditor for an amount less than a given threshold figure.
+Companies can gain direct access to SWIFT via a MA-CUG sponsored by their bank.
+However, unlike SCORE, a company can only communicate with its sponsoring bank.
-Materiality is also a fundamentally important concept in financial accounting.
+It has to join a MA-CUG for each bank with which it wants to communicate.
-Relevant accounting standards, principles and disclosures need only be applied to material items.
-Similarly in risk management, only material risks require active management.  (While non-material risks can be retained and monitored periodically to ensure that they remain non-material.)
+== See also ==
+* [[Member]]
+* [[Payments and payment systems]]
+* [[Standardised corporate environment]]  (SCORE)
+* [[Society for Worldwide Interbank Financial Telecommunications]]  (SWIFT)
+[[Category:Cash_management]]
-== See also ==
-* [[Cross default]]
-* [[Default]]
-* [[Loan agreement]]
-* [[Risk management]]