This explains what materiality means in an audit and why it matters for financial decision-making. The key takeaway is that materiality guides auditors in focusing on misstatements that truly ...

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 ...

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 new Frequently Asked Questions document aims to support stakeholders as they implement International Standard on Auditing 570 (Revised 2024), Going Concern. The FAQ document discusses the main ...

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 ...

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 ...

The regulator upheld a turnover-linked materiality framework for related party transactions, replacing the flat 10% test to align approvals with entity size while retaining shareholder scrutiny for ...