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 ...

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 ...

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 ...

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 ...

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 ...

The definition of a business-critical risk or opportunity is changing, as corporate leaders grapple with a flow of disruptions - geopolitical, economic, supply chain, social, and public health. What ...

The American Institute of CPAs released a discussion paper Wednesday explaining some of the challenges of determining materiality in an attestation engagement when the subject matter can’t be measured ...

The American Institute of Certified Public Accountants (“AICPA”) Auditing Standards Board issued Statement on Auditing Standards No. 138 and Statement on Standards for Attestation Engagements No. 20 ...

If the Global Reporting Initiative (GRI) created a semantic “heat map” of the most-used terms at its Global Conference on Sustainability and Reporting this week, Materiality would win hands-down.

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 ...