Examples of using Materiality threshold in English and their translations into Romanian
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Less than 2%(below materiality threshold).
Materiality threshold in EFCA is 4500€ and estimated level of risk of error is below;
( 19) The Court sets the materiality threshold at 2%.
Impose significant materiality thresholds below which credit protection is deemed not to be triggered if a credit event occurs;
For the moment, the Court applies a uniform 2% materiality threshold across the board.
For agriculture as a whole- €49.8 billion in 2006- the Court found a marked reduction in the estimated overall level of error,although it remains just above the materiality threshold.
The margin of deviation has been defined in the light of the materiality threshold for errors established by the European Court of Auditors.
The situation in Agriculture remains stable with a level of error close to the materiality threshold of 2%.
Institutions may consider materiality thresholds on payments below which no payment shall be made in the event of loss to be equivalent to retained first loss positions and to give rise to a tranched transfer of risk.
Stresses that even ifthe situation has improved in recent years the most likely error rate is still significantly above the materiality threshold of 2%;
The second reason is that the European Court of Auditors applies too low a materiality threshold: 2% to all sectors; as audit methods go, these ones must be re-examined.
Considers that it will also mean that the management and control systems in Member States work effectively andthus that the level of irregularities could be below the materiality threshold;
The Court compares the estimated error rate against what is deemed to be a tolerable limit- or materiality threshold- to determine the nature of the opinion to be given.
Error rates have declined butare still above the materiality threshold set by the European Court of Auditors, indicating that there is still some way to go to simplify and streamline delivery.
For Agriculture and natural resources, the estimated error rate was 2,3%,slightly above the materiality threshold and systems were partially effective.
The European Court of Auditors is responsible because it must reflect on its audit methods, and in particular on the materiality levels; it is the responsibility of the Court, not of the Commission or Parliament,to lay down the materiality thresholds.
Similarly, the level should be able to be reduced by the Member States when the error rates are under the materiality threshold and the management and control systems work properly.
Rural development accounts for a disproportionately large part of the overall error while for EAGF expenditure the Court estimates the value of the error rate to be slightly below the materiality threshold(2%).
The institutions should be able to move away from the general 2% materiality threshold used by the Court of Auditors to conclude on the legality and regularity of the underlying transactions.
Moreover, the error rates detected in ex-posts audits, in particular for personnel and indirect costs,are still above the materiality threshold defined by the Court of Auditors.
This will mean in some areas fixing a tolerable risk level above the 2% materiality threshold used by the Court of Auditors across all policy areas to conclude on the legality and regularity of the underlying transactions.
For each future spending proposal, you would be asked to'tolerate' a carefully calculated level of risk, so thatthe Court- hopefully- would adjust its materiality threshold on that basis.
The concept of a‘Tolerable Risk of Error' needs to be clearly distinguished from that of the‘Materiality Threshold' as defined and applied by the Court, which must remain the responsibility of the external auditor10.
The internal controlobjective for the LIFE Programme would be to limit the residual error rate(after corrections) to a range between the expected 1.6% and the 2%"materiality" threshold set by the Court of Auditors.
Despite the fact that this item is significantly above the 2% materiality threshold and that a reputational risk could be linked with this recovery, DG COMP did not conduct a formal impact assessment to determine if a reservation should be raised.
The extraction and forestry companies listed on the European markets and the major non-listed companies will publish a report on payments to governments, detailing them by country and, where payments are for one specific project,by project, with a materiality threshold.
The Commission takes the view that in majority of cases the disclosure of payments to government on a country andproject basis where those payments have been attributed to a specific project(with a materiality threshold) would not give direct insight into confidential company information such as levels of turnover, costs and profits.
In general these reservations are arrived at by calculating a residual risk orresidual error rate- generally an estimate of the control mechanisms' impact on the error rate on a multi-annual basis- which is compared with the materiality threshold of 2%.
Expresses strong concern over the fact that the 2015 RER of closed contractual operations included in the annual activity report was estimated at 2,2%,which is still over the materiality threshold of 2% and equal to about EUR 174 million including EUR 98 million for the EDFs;
The disclosure of payments to government on a country-and, as the case may be, on a project- basis would better satisfy the demands of stakeholders calling for enhanced disclosures whilst the costs of such a policy option would remain acceptable,on condition that an appropriate materiality threshold is introduced.