THE SARBANES-OXLEY REQUIREMENT FOR COMPANIES to develop key control processes has brought new attention to the well-known concept of materiality. CPAs need to be able to identify key control ...

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 ...

It can be defined and rationalised in numerous ways, but the following encompasses the essence of the concept: Materiality is a concept or convention within auditing and accounting relating to the ...

Auditor disclosures of client-specific quantitative materiality thresholds, which are required in the United Kingdom but not the United States, could be encouraging some businesses to massage their ...

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 Financial Accounting Standards Board has issued for public comment two exposure drafts related to materiality and its Disclosure Framework project with the goal of making financial disclosures ...

Materiality in the context of the federal securities laws has been a topic of repeated focus by the Securities and Exchange Commission (SEC) and the courts over the years (see here). That attention, ...

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 ...

This article is about the assessment of materiality in planning and completing an audit of a nonprofit organization is inherently difficult. The for-profit world’s rules of thumb for materiality ...

Double materiality is quickly changing how businesses think about sustainability. While traditional materiality focuses on how environmental, social and governance (ESG) issues affect a company’s ...