Determinación de los niveles de materialidad para su reconocimiento y medición en la información financiera

Abstract

The concept of materiality has presented various definitions throughout accounting history. The purpose of this paper is focused on presenting the standards issued by accounting regulatory bodies worldwide, in addition to the disclosures of researchers and academics within the framework of the principle of materiality in accounting. In this sense, the conceptual bases and some rules or thresholds of materiality applicable for its determination in financial information are identified. This determination is subjective, as it is subject to the judgment of the preparer of the information, since, for its issuance, it must take into account quantitative and qualitative factors; which prevents the establishment of homogeneous rules that allow determining more accurate and reliable materiality judgments for the users of the information. The methodology used in this research corresponds to a comparative qualitative analysis to analyze the bibliography acquired from the standards and requirements published by the IASB, the IFRS, other texts and graduate theses; as well as the documentary review of scientific articles developed by researchers and academics, on the principle of materiality in accounting and the application of professional judgment in its determination. It is concluded that there is an absence of standards and guidelines with examples of guidance in the application of materiality, which leads to the use of empirical rules that are applied by the preparers and auditors of the information in their professional practice and that for the regulatory bodies lack support in the accounting literature and in the law. In the same sense, it is ratified that revenues are the most predominant factor in the determination of materiality, but there is a tendency towards profits as the most common rule of thumb.