Oireachtas Joint and Select Committees
Wednesday, 20 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Dargan Fitzgerald:
Yes, certainly. So the effect of the lower materiality is, I mean, in very simple terms: the lower the materiality, the more significant will be any individual error that is present in the financial statements. So if an error were greater ... a single error were greater than that materiality amount, we would propose adjustment as a matter of course.
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