Merkittävyysperiaate

Merkittävyysperiaate, also known as the principle of materiality, is a fundamental concept in accounting and auditing. It refers to the importance of information in influencing the decisions of users of financial statements. Information is considered material if its omission or misstatement could reasonably be expected to influence the economic decisions of users made on the basis of the financial statements.

The principle of materiality guides preparers and auditors in determining what information needs to be disclosed and what level of precision is required. It acknowledges that not all errors or omissions have a significant impact on the overall financial picture presented. Therefore, minor inaccuracies that would not sway a user's decision can be overlooked or corrected without substantially altering the financial statements.

Determining materiality is a matter of professional judgment, taking into account both quantitative and qualitative factors. Quantitatively, this might involve considering the size of an item in relation to the total assets, liabilities, equity, or net income. Qualitatively, factors such as the nature of the item, its potential to mask a trend, its effect on compliance with laws or regulations, or its impact on management compensation can also render it material, even if its monetary value is small.

The application of the merkittävyysperiaate ensures that financial statements are both relevant and reliable, focusing on the information that truly matters for decision-making while avoiding unnecessary complexity. It is a cornerstone of fair presentation and an essential element in achieving the objectives of financial reporting.