In the accounting profession, the concept of materiality in financial reporting comes from two distinct areas: Generally accepted accounting principles (GAAP), and generally accepted auditing ...

The AICPA Auditing Standards Board (ASB) is proposing changes to the definition of materiality in its standards for auditors and attestation engagements to eliminate inconsistencies with the ...

The concept of materiality in the AICPA Professional Standards has been amended to match the description used by other standard setters and regulators in the United States. Under new standards issued ...

The American Institute of Certified Public Accountants (“AICPA”) Auditing Standards Board issued Statement on Auditing Standards No. 138 and Statement on Standards for Attestation Engagements No. 20 ...

The goal of conducting an audit and preparing an associating audit report is to allow the auditors to express an opinion regarding whether or not a company's financial statements were prepared in ...

Materiality is a term used in accounting and the law, in relation to information disclosed in financial statements that affects decisions made by the people who read them. Deciding whether something ...

Report 816 Accounting for your super: ASIC’s review into the financial reporting and audit of super funds (REP 816), which ...

Forbes contributors publish independent expert analyses and insights. Robert Eccles writes about sustainability in the capital markets. Materiality is a fundamental concept in corporate reporting of ...