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 ...

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 ...

The word materiality only appears twice in the SAS 70 audit standard and neither occurrence is pertinent to this discussion. But as anyone familiar with type 2 SAS 70 audit reports knows, the auditor ...

The Buyer can respond to the materiality qualifier by inserting a materiality scrape, which is a provision that typically reads as follows: “in determining whether any breach of any ...

To determine maximum aggregate component materiality levels, we first use the cumulative binomial distribution to derive the maximum number of components that can be allowed to simultaneously contain ...

Materiality is a term used in accounting and the law, in relation to information disclosed in financial statements that affects decisions made by the people who read them.Deciding whether ...

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 ...