The UK Financial Reporting Council (FRC), as part of an effort to spearhead "decision-useful" corporate reporting that values quality over quantity, has released a series of reports focused on materiality.
"Companies use materiality to decide what to include and exclude in corporate reporting. It provides a lens to consider the amount and depth of information needed," the FRC wrote on its website while introducing the series of resources. "As reporting requirements grow, materiality must become a powerful tool to ensure