Materialness
Definitions
- (n.) A principle in law and accounting denoting the significance of information or fact such that its omission or misstatement could influence decisions or assessments.
The auditor evaluated the materialness of the financial discrepancies before issuing the report.
Related terms
See also
Commentary
Materialness relates closely to materiality; in drafting, ensure clarity whether the term refers to legal or accounting contexts for precision.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.