Editor’s note: This is the second article in a series of articles about application of the group audits standard. For the first article in the series, see “The Scoop on Group Audits: You May Have Them ...

To determine maximum aggregate component materiality levels, we first use the cumulative binomial distribution to derive the maximum number of components that can be allowed to simultaneously contain ...

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 ...