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 ...

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 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 ...

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 ...

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 Public Company Accounting Oversight Board has voted to propose seven new auditing standards related to risk assessment. The proposed standards would supersede the board's interim auditing ...

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 ...