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 ...

Representations and warranties play an important role in M&A agreements by providing valuable disclosures and allocating risks between the parties. Representations regarding the target company’s ...

FASB is hosting roundtable meetings in March to discuss defining materiality in accounting standards, a can of worms it opened in 2015 in connection to disclosures.

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 Financial Accounting Standards Board plans at its next public meeting to discuss its controversial proposal to alter the GAAP concept of materiality.

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 ...

Determining overall group materiality and materiality levels for individual components is becoming more of a hot-button issue as the number and complexity of large and international group audits ...

Generally accepted accounting principles, or GAAP, serve as guidelines for businesses large and small in reporting financial information to outsiders. GAAP's objective is to guarantee that current or ...

GAAP stands for Generally Accepted Accounting Principles. They are the standards and procedures companies commonly use to account for their finances and compile financial statements. Sometimes an ...