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PCAOB Issues Guidance on New Auditing Estimates, Specialist Requirements

The Public Company Accounting Oversight Board (PCAOB) issued four documents providing guidance from its staff on the new requirements for auditing accounting estimates and the auditor’s use of a specialist. The new requirements will be taking effect for audits of financial statements for fiscal years ending on or after Dec. 15, 2020, and the PCAOB wants to offer some extra help ahead of time. Read more at Accounting Today.