Materiality
Also called: material misstatement, materiality threshold
Materiality is the threshold above which an error or omission could change a reasonable user's decision. Auditors set a quantitative benchmark — often a small percentage of profit or revenue — but the concept is explicitly qualitative too: a tiny amount that turns a loss into a profit, or that involves fraud by management, is material regardless of size.
Where this is taught
Definitions are the trailer. These free levels turn Materiality into something you play — one bite-size lesson, with worked examples, a quiz and XP.