SEC · other · Published 1999-08-19 · Effective 1999-08-12 · 64 FR 45150
Document
Document number
99-21484
Federal Register citation
64 FR 45150
CFR reference
17 CFR 211
Type
Rule
Action
Publication of Staff Accounting Bulletin.
Category
other
Agency
US Securities and Exchange Commission
Publication date
1999-08-19
Effective date
1999-08-12
Docket
Release No. SAB 99
Abstract
This staff accounting bulletin expresses the views of the staff that exclusive reliance on certain quantitative benchmarks to assess materiality in preparing financial statements and performing audits of those financial statements is inappropriate; misstatements are not immaterial simply because they fall beneath a numerical threshold.