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 ...

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 ...

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 new Frequently Asked Questions document aims to support stakeholders as they implement International Standard on Auditing 570 (Revised 2024), Going Concern. The FAQ document discusses the main ...

The concept of materiality in the AICPA Professional Standards has been amended to match the description used by other standard setters and regulators in the United States. Under new standards issued ...

Navigating the world of business finances can sometimes feel like wading through an alphabet soup of acronyms, jargon, and inscrutable terminology. This is especially true when it comes to the ...

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 ...

This study Investigates how manager and auditor incentives, along with audit committee characteristics, are associated with materiality judgments about detected misstatements. Using data on detected ...