What context can I use each word in?
Learn when and how to use these words with these examples!
materiality
Example
The auditor determined that the misstatement was not material to the financial statements. [materiality: noun]
Example
The materiality of the fabric made it durable and long-lasting. [materiality: noun]
significance
Example
The discovery of the new species was of great significance to the scientific community. [significance: noun]
Example
The significance of the data cannot be overstated in determining the outcome of the study. [significance: noun]
Good things to know
Which word is more common?
Significance is more commonly used than materiality in everyday language, as it is a more versatile term that can be applied to a wide range of situations. Materiality is a more specialized term that is primarily used in accounting and finance.
Whatโs the difference in the tone of formality between materiality and significance?
Materiality is typically associated with a technical or specialized tone, while significance is more commonly used in both formal and informal contexts.
