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 ...

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 ...

The IPSASB is seeking stakeholder feedback to ensure the final practice statement reflects materiality in practice.

As we prepare for the replacement of SAS 70 by SSAE 16, articles and vendor whitepapers are flooding the landscape. These documents typically provide only cursory descriptions of the similarities and ...

In 2015, FASB sent a number of stakeholders into a tizzy when it issued two exposure drafts, part of its disclosure framework project, intended to “clarify the concept of materiality.” After hearing ...

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 story goes like this: A couple is cooking together for the first time. They are cooking a large ham; and one of them trims the ends off before putting it in the oven. “Why are you cutting the ends ...

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 ...

Over the past few years, there has been growing demand from business stakeholders to integrate environmental, social and governance (ESG) principles into their broader corporate strategies, in part ...

Buyers’ lawyers increasingly are getting more successful in adding so-called “materiality scrape” provisions to acquisition agreements. As seller’s counsel, this trend frustrates me. I find them ...

Double Materiality Assessment (DMA) has become a central concept in Environmental, Social, and Governance (ESG) frameworks, especially under recent regulatory initiatives like the EU Corporate ...