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 ...

Editor’s note: This is the second article in a series of articles about application of the group audits standard. For the first article in the series, see “The Scoop on Group Audits: You May Have Them ...

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 ...

Double materiality is quickly changing how businesses think about sustainability. While traditional materiality focuses on how environmental, social and governance (ESG) issues affect a company’s ...

In this edition of their Corporate Governance column, discuss a bedrock feature of American securities law and regulation—materiality. They write that the working definition of materiality in the ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...