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PCAOB launches e-newsletter for audit committees

  • PCAOB (US Public Company Accounting Oversight Board) Image

May 07, 2015

The PCAOB has launched an electronic newsletter, “Audit Committee Dialogue,” to provide insights from inspections of public company auditors and help audit committee members oversee their auditors.

The first edition of “Audit Committee Dialogue” features discussions of the following:

  • Key recurring areas of concern, including:
    • Auditing internal control over financial reporting.
    • Assessing and responding to risks of material misstatement.
    • Auditing accounting estimates, including fair value measurements.
    • Deficient "referred" work for cross-border audits.
  • New risks the PCAOB is monitoring:
    • Increased mergers and acquisitions.
    • Falling oil prices.
    • Undistributed foreign earnings.
    • Maintaining audit quality while growing other business.

The "Audit Committee Dialogue" e-newsletter is available on the PCAOB's Web site.

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