Question: To determine whether or not information is material, paragraph 9 of AASB 1031 indicates that it is material if its omission, misstatement or non-disclosure has

To determine whether or not information is material, paragraph 9 of AASB 1031 indicates that it is material if its omission, misstatement or non-disclosure has the potential, individually or collectively to:

a. influence management to make decisions that will affect users of the financial report.

b.be greater than 1% of the total assets of the entity.

c. present the financial report in a true and fair' manner.

d. affect the discharge of accountability by the governing body of the entity.

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