In the United States, audit firms of large accelerated filers with fiscal years ending on or after June 30, 2019 are required to disclose Critical Audit Matters (CAMs) in their audit reports. For 53 of these large accelerated filers that … Continue reading
Category Archives: Critical Audit Matters
Importance of Critical Audit Matters (CAMs) for Investors
As defined by the PCAOB, a critical audit matter (CAM) is any matter that the auditor communicated or was required to communicate to the company’s audit committee, and is related to items that are material to the company’s financial statements, … 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