Authority and currency
About this authority
- Publisher
- U.S. Securities and Exchange Commission
- Standing
- Primary authority
- Version
- SAB 99 as accessed 2026-08-08
- Relevant parts
- Topic 1.M, Materiality
- Currency
- current · checked Aug 8, 2026
SAB 99 rejects an exclusively percentage-based analysis. The surrounding facts can make a quantitatively small misstatement important, including its effect on a trend, a contractual requirement, compensation, a business segment, or the concealment of an unlawful transaction. The lesson is disciplined completeness: compute magnitude, document the qualitative facts, consider aggregate effects, and preserve the legal and auditing boundaries instead of turning any example factor into a formula.