The International Accounting Standards Board's (IASB) rule for materiality is any item under 5% of net income is considered immaterial.

Name: The International Accounting Standards Board's (IASB) rule for materiality is any item under 5% of net income is considered immaterial.
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The IASB does not have a specific rule for materiality based on a percentage of net income. Materiality is determined based on the company's specific circumstances and the financial information's impact on its users' decisions.

The International Accounting Standards Board's (IASB) Rule for Materiality Is