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ARTICLE · 25 JULY 2019

PCAOB Continues To Expand CAMs Resources

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Earlier this month, the Public Company Accounting Oversight Board released additional resources regarding its new Critical Audit Matters disclosure requirement, with the latest resources targeted to audit committees and investors.

United StatesAccounting and Audit
Alan Wilson
Alan Wilson
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Earlier this month, the Public Company Accounting Oversight Board released additional resources regarding its new Critical Audit Matters (CAMs) disclosure requirement, with the latest resources targeted to audit committees and investors. Both resources provide some general background on CAMs (see our June 2, 2017 and October 30, 2017 posts) and include helpful responses to FAQs, many of which overlap. The resource for audit committees also includes some additional guidance specifically tailored to the audit committee's role with respect to CAMs and includes a decision tree to illustrate the considerations auditors work through in determining which matters to disclose as CAMs.

Some key takeaways from the latest FAQs are highlighted below:

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