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 ...

ESG reporting has moved from a voluntary PR exercise to an expectation for regulators and investors, but the compliance audit ...

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 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 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 ...

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 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 ...