PCAOB Sheds Light on Critical Audit Matters (CAM’s)

PCAOB Sheds Light on Critical Audit Matters (CAM’s)

In fiscal year 2019, auditors of large public companies began to include so-called “critical audit matters” (CAMs) in their audit reports. Here are initial observations from the Public Company Accounting Oversight Board (PCAOB) about the effort that large audit firms have put into implementing the guidance for the first time.