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 ...

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 ...