This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

PCAOB posts resource for audit committees regarding new requirements related to estimates and specialists

  • PCAOB (US Public Company Accounting Oversight Board) (dark gray) Image

Nov 12, 2020

On November 12, 2020, the Public Company Accounting Oversight Board’s (PCAOB) released a resource for audit committees on their new requirements related to auditing accounting estimates, including fair value measurements, and using the work of specialists. The requirements will take effect for audits of financial statements for fiscal years ending on or after December 15, 2020.

To help audit committees enhance their understanding in this area, this resource provides the basics of the new requirements, key takeaways for audit committees, and questions to consider asking auditors.

Review the resource on the PCAOB's website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.