Financial Accounting Standards Board Fasb

Materiality In Financial Statements
Materiality In Financial Statements
Materiality In Financial Statements It is the responsibility of an independent auditor to plan and perform an audit of financial statements that will provide reasonable assurance of detecting errors and irregularities that are material in nature. According to the Financial Accounting Standards Board, the essence of the concept of materiality is: The omission or misstatement of an item in a financial report is material if, in the light of surrounding circumstances, the magnitude of the item is s
accounting standards board paper
accounting standards board paper
Accounting Standards Boards Paper In 2001, the company Enron made financial history. This energy company was warehoused in Houston, TX. Due to poor financial reporting, and theft, this company became known for its bankruptcy. Thousands of employees lost their jobs and billions of dollars were lost. This act was done by strategically planned accounting fraud. The Sarbanes-Oxley Act was also created as an outcome. However, accounting issues have gone back way before this incident. History of IASB
INTERIM FINANCIAL REPORTING AND INVESTMNET DECISIONS
INTERIM FINANCIAL REPORTING AND INVESTMNET DECISIONS
INTERIM FINANCIAL REPORTING AND INVESTMNET DECISIONS BY A.A. OWOJORI, PhD, FCA Senior Lecturer in Accounting & Business Education Accounting and Business Education Unit Department of Educational Management Faculty of Education Ekiti State University Ado-Ekiti, Ekiti State, Nigeria [email protected] [email protected] 08033525195 ABSTRACT The main objective of financial report, annual or interim, is to provide information about the reporting entity?s financial performance and fina