Dec 15, 2023
The report highlights key risks, like high interest rates, and other considerations, like audit areas with recurring deficiencies, that auditors should be focused on when planning and performing audit procedures. It notes that the PCAOB will continue to prioritize inspections of financial-services sector audits, digital assets, and more. The report also includes suggested questions for audit committees to hold firms accountable to high standards when hiring and overseeing the audit process
Oct 11, 2023
This PCAOB Staff Report focuses on the PCAOB-mandated EQR process, in which a reviewer who is not part of the engagement team evaluates significant judgments made by the audit engagement team. It also reveals that 42% of firms the PCAOB inspected in 2022 had a quality control criticism related to engagement quality reviews (EQRs), up from 37% in 2020.
Sep 28, 2023
In this publication, the PCAOB presents high-level observations and takeaways from conversations with over 200 audit committee chairs about the 2021 audit of their company's financial statements. PCAOB has made it a strategic priority to engage directly and regularly with audit committees, which play a vital role in furthering the collective goal that public companies have appropriate policies and controls for the preparation of accurate financial statements and share a goal of promoting high-quality auditing through the oversight of external auditors.
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