Professionals from our Department of Professional Practice discuss the common trends and themes from 2020 reporting of CAMs, PCAOB observations and guidance for preparers.
- SEC reporting entities
- The requirement to communicate critical audit matters in the auditor’s report has expanded, beyond large accelerated filers, to include applicable SEC entities with fiscal year-ends on or after December 15, 2020.
- 02:00 - What is a CAM and what is included in the auditor’s report
- 04:35 - PCAOB observations
- 05:55 - Nature and topics of CAMs
- 10:30 - COVID-19 effect on CAMs
- 11:30 - Going concern CAMs
- 12:15 - Observations from working with preparers
- 13:40 - IPOs and CAMs
- 14:30 – Action items
PCAOB interim analysis report
Evidence on the initial impact of critical audit matter requirements