PCAOB staff periodically provides reminders to auditors on applying specific auditing requirements, including relevant examples. Staff outreach performed in connection with the Board’s proposal on the auditor’s responsibility with respect to a company’s noncompliance with laws and regulations indicated that an overview of existing audit requirements regarding detecting, evaluating, and making communications about illegal acts1 by a company in an audit of financial statements may be beneficial.
This staff publication focuses auditors on relevant considerations when performing procedures to detect, evaluate, and make communications about illegal acts by a company under audit.
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