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Article

Spanish

ID: <

10670/1.28et5l

>

Where these data come from
Materiality in auditing as a barrier to comparability of financial information: a review of previous empirical research

Abstract

Initiatives such as International Accounting and Financial Reporting Standards (IAS/IFRS) as well as International Standards on Auditing (ISA) provide a major boost to the harmonisation of corporate reporting. However, there have been some inaccuracies in its implementation process, which have existed for decades; one of these is the application of the concept of materiality in accounting and auditing. The objective of this work is to demonstrate, through a review of the specialised literature, that the absence of mandatory guidelines for determining materiality in the audit work leads to a continuous lack of consensus among individuals, thus discouraging the process of setting up systems to allow full comparability of financial information published by companies.

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