As public company auditors prepare to deliver new information in auditors’ reports, firms need to develop consistent processes for determining what should be disclosed. As auditors prepare for a new auditing standard requiring the disclosure of critical audit matters (CAMs) in their reports, they are traveling in uncharted territory and contemplating new information that they will be providing to investors. To read the full article in the Journal of Accountancy, click: Critical Audit Matters Coming into Focus.
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On June 1, 2017 the Public Company Accounting Oversight Board (PCAOB) adopted a new auditing standard to provide additional information to investors. The new standard received approval from the Securities and Exchange Commission on October 23, 2017. In this post, Rohan Bose, financial analyst with Mercer Capital, summarizes several of the major changes coming to audit reports in the near future. To read the full article in Mercer Capital’s Financial Reporting Blog, click: SEC Approves New PCAOB Audit Standards. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit:…