Auditing standards emphasize that materiality is a matter of professional judgment, including consideration of technical issues such as the concept of audit risks, which are extensively discussed ...

4. Materiality In auditing, materiality refers to the significance of an accounting error, omission, or misstatement that would impact the judgment of someone relying on the financial information.

Marsha B. Keune, Karla M. Johnstone, Materiality Judgments and the Resolution of Detected Misstatements: The Role of Managers, Auditors, and Audit Committees, The ...

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 ...

The AICPA Auditing Standards Board has amended its concept of materiality to match the definition used by the U.S. judicial system and other US standard setters.

Discover how audit trails trace financial data, ensure compliance, and detect fraud. Learn their importance in accounting, ...

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 ...

When preparing an audit, the auditors assess materiality on two levels. First is the overall financial statement level, in regard to overall materiality.

AccountAbility has released a comprehensive report examining the growing importance of non-financial factors on corporate performance, disclosure, and valuation. Redefining Materiality II was ...