FASB Ideas on Materiality Reform Draw Heat, Questions
Image: An effort to align the accounting world’s definition of materiality with how the idea is widely understood in legal circles is sparking a fierce debate in corporate accounting circles, with potentially big consequences for financial reporting. “More information or more disclosure is better than less, in general,” said Damon ...
Related articles
-
ArticleSEC, FASB issue changes aimed at simplifying disclosure requirements
Companies need to update their disclosure controls and procedures now that the SEC and FASB are starting to trim unnecessary bulk out of disclosure requirements.
-
Article
SEC Committee Ups Ante in Fight Against FASB Materiality Changes
Members of the SEC’s Investor Advisory Committee are ramping up their fight with FASB over proposals that redefine its approach to materiality in financial statements. The plan is “fraught with the risk that disclosures that are unfavorable to the issuer are disproportionately viewed as immaterial and as a result excluded ...
-
WebcastDec 16 | Hot Topics in Risk and Compliance: AI, Analytics, and Emerging Audit Technologies
Join experts from KPMG, Cisco, and Workiva as they explore how audit, accounting, and finance professionals can leverage a technology mix of data analytics, gen AI, and other tools to ramp up efficiency and strengthen control effectiveness.