Completed
Date

Thursday 10 May 2018

Time

12:00 pm

Duration

1.5 CDP hours

Session Topic

Applying the new materiality guidance for improved decision – making

Directors, trustees and others responsible for the preparation of financial statements make continuous judgements about materiality. However, materiality continues to be a difficult concept for preparers and boards to understand and implement. The task has become somewhat easier with the release of AASB practice statement 2 Making Materiality Judgements, which provides practical guidance and examples. We will explain what it means to you. The session will

  • Discuss the general characteristics of materiality
  • Explain the four-step materiality process
  • Look at specific issues such as prior-period information, errors, covenants, and interim reporting, and
  • Take you through a system that effectively implements guidance.
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board. He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.