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 ...

Determining materiality has long been one of the most difficult exercises in auditing and financial reporting. The challenge can become even more daunting when quantitative measurements are not ...

Applying such a ‘materiality filter’ provides investors with a straightforward tool to assess the robustness of a company’s ...

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 ...

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 ...

Navigating the world of business finances can sometimes feel like wading through an alphabet soup of acronyms, jargon, and inscrutable terminology. This is especially true when it comes to the ...

This study Investigates how manager and auditor incentives, along with audit committee characteristics, are associated with materiality judgments about detected misstatements. Using data on detected ...

We test conjectures about the determinants of materiality judgments by examining a financial reporting choice made by firms that discover errors in prior years' financial statements. From late 2004 to ...

Sustainable investors and sustainability-oriented issuers face an asset class data gap. Sustainability standards setters have designed frameworks for public equities because to date, most ESG data and ...