materiality Definition
- 1the quality or condition of being material or physical
- 2the importance or relevance of something, especially financial information
Using materiality: Examples
Take a moment to familiarize yourself with how "materiality" can be used in various situations through the following examples!
Example
The materiality of the sculpture was impressive.
Example
The company's financial statements were reviewed for materiality.
Example
The materiality of the evidence was questioned by the defense.
Example
The materiality of the issue was discussed at length during the meeting.
materiality Synonyms and Antonyms
Synonyms for materiality
Antonyms for materiality
Phrases with materiality
a legal concept that refers to the significance of a fact or event in relation to a legal issue or case
Example
The legal materiality of the evidence was debated by the attorneys.
a financial concept that refers to the significance of an amount or transaction in relation to a company's financial statements
Example
The auditor assessed the financial materiality of the transaction.
a physical concept that refers to the quality or condition of being material or physical
Example
The physical materiality of the object was examined by the scientist.
Origins of materiality
from Medieval Latin 'materialitas', from Latin 'materia', meaning 'matter'
Summary: materiality in Brief
The term 'materiality' [məˌtɪərɪˈæləti] can refer to the quality of being physical or the importance of something, especially financial information. It is used in contexts such as art, law, finance, and science, as in 'The materiality of the sculpture was impressive.' 'Materiality' also extends into phrases like 'legal materiality,' referring to the significance of a fact in a legal case, and 'financial materiality,' referring to the significance of an amount in a company's financial statements.
