The determination of materiality and the resulting impact on accounting decisions requires the use of professional judgment to assess the quantitative and qualitative circumstances surrounding each particular case. Except as provided in the instructions to the Agency Financial Reporting Package, no omissions of fact shall be made on the basis of immateriality. The Office of the State Comptroller may subsequently, at its discretion, modify or may eliminate information deemed to be immaterial.

Guide to Financial Operations

REV. 01/01/2017