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 ...

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 ...

CORPORATE excellence is typically measured by evaluating the capability and the resilience of a business itself. This is addressed by criteria such as financial performance, valuation, market ...

Companies, government agencies and nonprofit organizations use auditing practices to manage compliance with internal controls. For example, an auditor looks for inconsistencies in financial records.