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 ...

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 concept of materiality was defined more precisely for federal government entities in an accounting standard issued Monday by the Federal Accounting Standards Advisory Board. The guidance is ...

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 ...

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 ...

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 ...

Sustainable investors and sustainability-oriented issuers face an asset class data gap. Sustainability standards setters have designed frameworks for public equities because to date, most ESG data and ...