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 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 ...

RECENTLY, there has been much debate about the relevance, performance and impact of the accountancy profession. Governments and politicians are busy devising extra safeguards particularly in audit to ...

I'm writing to disagree in the strongest terms with what Blake Oliver has stated in his article "Do audit opinions even matter anymore?" I think these types of articles draw unnecessary and ...