The Public Company Accounting Oversight Board (PCAOB) posted its first Spotlight yesterday, a publication highlighting timely and relevant observations for auditors and other key stakeholders. This year, the PCAOB specifically reviewed how auditors of 12 large accelerated filers with fiscal … Continue reading
Author Archives: Jessica McKeon
PCAOB Announces 2019-2023 Strategic Plan
On November 19th, the Public Company Accounting Oversight Board (PCAOB) approved its 2019-2023 Strategic Plan, as well as its fiscal 2020 budget of $284.7 million. The plan, which guides the PCAOB’s operations and serves as the foundation of the budget, … Continue reading
More to Discover with CAMs
Audit Analytics’ new Critical Audit Matters (CAMs) database makes it easier than ever to search, track, analyze, and understand CAMs. A CAM is any matter that the auditor communicated or was required to communicate to the company’s audit committee, and … Continue reading
What Investors Need to Know About Audits
On Monday, November 4, 2019, the CFA Society of New York hosted What Investors Need to Know About Audits, a forum that focused on the state of today’s audit process, how it has and continues to change over time, and … Continue reading
The History of Critical Audit Matters
The implementation of PCAOB Auditing Standard 3101 (AS 3101): The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion, adopted on June 1, 2017, makes significant changes to the auditor’s opinion. Among the new requirements is … Continue reading
Microsoft Discloses Critical Audit Matters
Microsoft Corporation [MSFT] filed its annual report on August 1, 2019, and, in addition to the wealth of information provided in the 10-K, we came across one of the first disclosures of critical audit matters from a large accelerated filer.1 … Continue reading
Auditor Market Share of Russell 3000 Companies with Revenue between $50M and $1B
In this analysis, we look at who audits Russell 3000 companies having $50 million to $1 billion in revenue. There are currently 60 audit firms competing over 1,235 companies within this revenue range. Unsurprisingly, the Big Four audit the majority … Continue reading