- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Tammy Whitehouse2019-09-03T16:59:00
Large accelerated filers saw an average of 1.8 issues called out as critical audit matters in their first round of reporting, according to a new analysis.
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Goodwill and other intangible assets and revenue recognition are among the most frequently communicated critical audit matters, according to the Public Company Accounting Oversight Board’s first report on the new disclosure.
Audit committees continue to increase the amount of disclosures they are providing to shareholders across a wide variety of categories, according to a recent analysis conducted by EY.
Among the first to disclose critical audit matters, Microsoft’s auditor, Deloitte, identifies revenue recognition and uncertain tax positions as CAMs.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
