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ARTICLE · 19 AUGUST 2022

PCAOB Releases New Audit Committee Resource

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The PCAOB recently released a new Audit Committee Resource, which sets forth questions that audit committee members may want to consider incorporating into their ongoing engagement with auditors.

GlobalAccounting and Audit
Alan Wilson
Alan Wilson
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The PCAOB recently released a new Audit Committee Resource, which sets forth questions that audit committee members may want to consider incorporating into their ongoing engagement with auditors. The categories of questions include fraud and other risks, IPOs and M&A, audit execution, audit firm compliance with auditor independence requirements, audit firm quality control systems, and technology (digital assets, cyber threats and data and technology used in the audit). The questions specifically address audit risks presented by the current economic environment, such as the following examples:

  • How have economic factors (e.g., supply chain disruption, inflation) influenced the auditor's risk assessment for the current year's audit?

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