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 ...

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 ...

FASB issued two exposure drafts Thursday that address the use of materiality—an attempt to help organizations eliminate unnecessary disclosures in financial statements. Feedback received by FASB ...

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 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 ...

Even a small business makes transactions that are too trivial to bother accounting for. If the debit side of your trial balance is $5 more than the credit side, you might determine that this ...

As we prepare for the replacement of SAS 70 by SSAE 16, articles and vendor whitepapers are flooding the landscape. These documents typically provide only cursory descriptions of the similarities and ...

One of the more significant announcements at the COP26 meetings in Glasgow in November concerned the International Financial Reporting Standards (IFRS) Foundation’s launch of a sustainability ...

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 ...