PCAOB Posts Request for Comment, Seeks Stakeholder Input on Critical Audit Matters

April 17, 2020

The PCAOB today posted to its website a Request for Comment from the Office of Economic and Risk Analysis, which seeks input from audit firms, preparers, audit committees, investors, and other financial statement users to inform our interim analysis of the Critical Audit Matter (CAM) requirements.

We are committed to fulfilling the expectation set out for us by the U.S. Securities and Exchange Commission to complete this interim analysis before the second phase of CAM implementation begins, and we are also mindful of the many challenges related to COVID-19 that our stakeholders are dealing with at this time. To provide additional time for interested parties to share feedback with us, we extended the comment period from 30 to 60 days.

Additional information on our interim analysis and specific questions for consideration are detailed in the Request for Comment. We encourage commenters to provide data, evidence, and/or specific examples in support of their comments.

All comments should refer to Interim Analysis No. 2020-01, Critical Audit Matter Requirements, on the subject or reference line and should be submitted no later than June 15, 2020. Please note that comments will be posted to the PCAOB website.

Comments should be submitted through one of the following methods:

• By email to [email protected]
• Through the PCAOB website at www.pcaobus.org or
• By postal mail to the Office of the Secretary, PCAOB, 1666 K Street, NW, Washington, DC 20006-2803.