FEW ISSUES INVOLVING THE PREPARATION of financial statements in conformity with generally accepted accounting principles have been more elusive and difficult to address and resolve—or of greater ...

Determining materiality has long been one of the most difficult exercises in auditing and financial reporting. The challenge can become even more daunting when quantitative measurements are not ...

Two alternative approaches are used in audit practice to provide quantitative materiality assessments about proposed audit adjustments. The cumulative approach compares to net income the total amount ...