§ 32.26   Materiality.

   (a) Except as provided in paragraph (b) of this section, companies may
   abide by the materiality standards of GAAP when implementing this
   system of accounts.

   (b) For companies that receive High-Cost Loop Support, or Connect
   America Fund Broadband Loop Support, materiality shall be determined
   consistent with the general materiality guidelines promulgated by the
   Auditing Standards Board.

   [ 82 FR 20840 , May 4, 2017]

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