Nebraska Administrative Code
Topic - PUBLIC EMPLOYEES RETIREMENT SYSTEMS
Title 303 - PUBLIC EMPLOYEES RETIREMENT BOARD
Chapter 3 - MATERIALITY AMOUNTS FOR TRANSACTIONS
Section 303-3-001 - Scope of the Rule

Universal Citation: 303 NE Admin Rules and Regs ch 3 ยง 001
Current through March 20, 2024

The objective of this rule is to establish materiality amounts or tolerance levels for various accounting and processing procedures within the Nebraska Public Employees Retirement Systems ('Agency'). Materiality amounts addressed in this rule will not affect the reliability of the Agency's financial statements due to the overall size of the plans administered by the Agency. An auditors' consideration of materiality is a matter of professional judgment and is influenced by their perception of the needs of a reasonable person who will rely on the Agency's financial statements. Materiality judgments are made in light of surrounding circumstances and necessarily involve both quantitative and qualitative considerations. An error or omission is considered material or significant if it changes a reader's interpretation of the financial statements.

Disclaimer: These regulations may not be the most recent version. Nebraska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.