Based on the methodology used by EFRAG (the European Financial Reporting Advisory Group) and the European National Standard Setters we proceeded at analysing the importance of financial statements and different forms of financial communication for different users of accounting information. Together with considerations about users’ decision-making needs, the assessment of whether information could influence the decision of a user will clearly depend on the attributes of the information concerned. In other words, both quantitative and qualitative factors are relevant to all materiality decisions.