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 ...

It can be defined and rationalised in numerous ways, but the following encompasses the essence of the concept: Materiality is a concept or convention within auditing and accounting relating to the ...

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 ...

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 ...

FASB has issued two exposure drafts as part of its disclosure framework project, which is intended facilitate clearer communication of GAAP information required in notes to financial statements. The ...

The Federal Accounting Standards Advisory Board (FASAB) is asking for public comment on a proposal to clarify the implementation of materiality concepts in the issuance of federal financial statements ...

The European Banking Authority (EBA) this week published its final draft Regulatory Technical Standards (RTS) to establish criteria for assessing the materiality of Credit Valuation Adjustment (CVA) ...

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 ...

One of the more significant announcements at the COP26 meetings in Glasgow in November concerned the International Financial Reporting Standards (IFRS) Foundation’s launch of a sustainability ...

The story goes like this: A couple is cooking together for the first time. They are cooking a large ham; and one of them trims the ends off before putting it in the oven. “Why are you cutting the ends ...