Stay Connected: Twitter Facebook Flickr RSS E-Mail
Skip navigation links
About the PCAOB
Rules of the Board
Registration & Reporting
Standards
Inspections
Enforcement
International
Research & Analysis
News & Events
Skip navigation links
Auditing
Ethics & Independence
Quality Control
Attestation
Superseded
Guidance
Current Activities
SAG

Click Plus Sign Icon to expand menu items
Click Minus Sign Icon to collapse menu items

[The following paragraph was effective for audits of fiscal years ending on or after November 15, 2004, for accelerated filers, and on or after July 15, 2005, for all other issuers. It was amended, effective for audits of fiscal years beginning on or after December 15, 2010. See PCAOB Release No. 2010-004.

Return to the current version.]

.80

If the auditor, as a result of the assessment of the risks of material misstatement, has identified risks of material misstatement due to fraud that have continuing control implications (whether or not transactions or adjustments that could be the result of fraud have been detected), the auditor should consider whether these risks represent significant deficiencies that must be communicated to senior management and the audit committee. fn 38 (See section 325, "Communications About Control Deficiencies in An Audit of Financial Statements," paragraph 4.). The auditor also should consider whether the absence of or deficiencies in programs and controls to mitigate specific risks of fraud or to otherwise help prevent, deter, and detect fraud (see paragraph .44) represent significant deficiencies that should be communicated to senior management and the audit committee.