This explains what materiality means in an audit and why it matters for financial decision-making. The key takeaway is that materiality guides auditors in focusing on misstatements that truly ...

Determining overall group materiality and materiality levels for individual components is becoming more of a hot-button issue as the number and complexity of large and international group audits ...

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 ...