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 ...

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 ...

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 ...

On the RTA side, the Sebi board has approved a new framework introducing activity-based regulation, under which only services provided to listed companies will fall under the regulator's purview, ...

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 ...