“PROMPT ACTION” must be taken by KPMG to review and revise its audit guidance on materiality, after the FRC raised concerns about the firm’s lack of progress in addressing previous failings. In its ...

The Auditing Standards Board issued eight standards with new guidance for auditors assessing risks and controls in financial statement audits. Auditors must consider risk and also determine a ...

The days of the aspirational, marketing-driven corporate sustainability report are dead. In their place, consumers, investors, and regulators now expect companies to have some serious and verifiable ...

The story goes like this: A couple is cooking together for the first time. They are cooking a large ham; and one of them trims the ends off before putting it in the oven. “Why are you cutting the ends ...

In this edition of their Corporate Governance column, discuss a bedrock feature of American securities law and regulation—materiality. They write that the working definition of materiality in 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 ...

In the coming year, expect to hear the terms impact and double materiality more frequently. European regulators are already asking companies to report on environmental, social, and governance, or ESG, ...