Provide an overview of current definition of materiality and discuss any deficiencies with the application.

by

Theoretical Discussion – materiality.

Provide a brief overview of the change.

Provide an overview of current definition of materiality and discuss any deficiencies with the
application.

Using specific references to the amended standards, explain to what extent these changes
overcome the identified issues.

Gauge the probable impact of the change our Australian clients.

Discuss how the concepts of materiality would be used in applying the International Integrated
Reporting Framework.

Identify timelines as to when Australian clients will have to comply.