PCAOB alert on fair value and impairment audit issues

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

22 Apr 2009

The US Public Company Accounting Oversight Board has issued a Staff Audit Practice Alert to inform auditors of public companies about potential implications on reviews of interim financial information and annual audits of three recently-issued Financial Accounting Standards Board Staff Positions relating to fair value measurements, impairments of financial assets, and disclosures.

See the IAS Plus News Story of 14 April 2009 for more information about the FSPs. The PCAOB's alert is intended to remind auditors of their responsibilities in conducting reviews of interim financial information and annual audits in light of the new FSPs related to fair value measurements and other-than-temporary impairments. Click for:

 

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