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6 Tips for Developing Critical Audit Matter Disclosures

January 3, 2019

A new standard for public company auditing is bringing the stress that accompanies any significant change, but it also is giving auditors the opportunity to communicate more about the audit. New Public Company Accounting Oversight Board (PCAOB) rules for the auditor’s report require auditors to disclose “critical audit matters” that are encountered in each engagement. The requirements take effect for audits of large accelerated filers for periods ending on or after June 30, 2019, and for audits of other applicable companies for fiscal years ending on or after Dec. 15, 2020. Read more at the Journal of Accountancy.