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 ...

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 ...

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 ...

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 International Public Sector Accounting Standards Board (IPSASB) has published the IPSAS Exposure Draft (ED) 93 for public comment. This draft aims to align the definition of materiality across ...

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 American Institute of CPAs released a discussion paper Wednesday explaining some of the challenges of determining materiality in an attestation engagement when the subject matter can’t be measured ...

Forbes contributors publish independent expert analyses and insights. I am an attorney who writes about ESG policy, laws, and regulations. After two years of drafting and delays, the U.S. Securities ...