Article
Spanish
ID: <
10670/1.28et5l>
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.