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 ...

Materiality is a term used in accounting and the law, in relation to information disclosed in financial statements that affects decisions made by the people who read them. Deciding whether something ...

Materiality is a fundamental concept in corporate reporting of all kinds. A piece of information is considered material if it would influence someone’s decision. It is audience specific but ultimately ...

FASB issued two exposure drafts Thursday that address the use of materiality—an attempt to help organizations eliminate unnecessary disclosures in financial statements. Feedback received by FASB ...

The International Sustainability Standards Board (ISSB) standards have joined the climate-disclosure reporting frameworks that take a financial materiality-led approach. While the ISSB standards seek ...

Here at SASB, we’ve noticed some confusion about the term "materiality." Such confusion is understandable. “Materiality” has different meanings when used colloquially and when used legally. Within the ...

Double materiality is quickly changing how businesses think about sustainability. While traditional materiality focuses on how environmental, social and governance (ESG) issues affect a company’s ...

Materiality determinations are inherently fact specific. While peer and industry precedent may be instructive, the adopting release emphasizes that “the same incident that affects multiple registrants ...

The relevance of materiality matrices to sustainability measurement and reporting was perhaps first established by the Global Reporting Initiative (GRI). GRI, for its part, defines materiality as ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

The concept of double materiality brings environmental impacts into the focus of standard-setting in accounting. Different reasons for adopting this concept might lead to widely varying ...

For banks with assets exceeding Rs 10 trillion, the ceiling for the materiality threshold has been set at Rs 25 crore ...