materiality news from FierceSarbox
News
Materiality concept still evolving
Recall that AS5 changed the concept of the "likelihood" of material misstatement, adopting the phrase "more than remote" likelihood from "reasonable possibility." That was part of a larger effort to... Read more...
Editor's Corner: More Compliance Guidance
The PCAOB and the SEC say they will soon release more Sarbanes-Oxley Read more...
What exactly is material from a Sarbox perspective?
One of the big complaints about AS2 was about the way it defined materiality. It's "more than a remote likelihood that a material misstatement of the financial statements will not be prevented or... Read more...
Finally, new Sarbox rules are approved
Well, it has come to pass. The new guidance from the SEC and PCAOB will almost certainly be officially stamped in time for the guidance to apply to 2007 audits. So good luck. The new rules will... Read more...
New world of network compliance and security emerges
It's often said in general Sarbanes-Oxley discussions that if a company, or executive, really wants to commit a crime, the law will not stop him. That's true of course. When it comes to network... Read more...
ALSO NOTED: More on the fate of the U.S. as a financial center; Canadian companies have compliance issues as well;
> This column discusses the already old issue of where the U.S. stands as a financial center in the post-Sarbox age. The author... Read more...
More on the shape of the new AS2
We've known for some time that the PCAOB intends to re-write AS2. We've gotten hints that... Read more...
Revising AS2 is the PCAOB's top priority
It's no surprise that reformulating Auditing Standard No. 2 is the PCAOB's highest priority when it comes to setting standards. The board had already submitted a set of proposals to the SEC, a... Read more...