[The following paragraph is effective for fiscal years beginning on or after December 15, 2024. See PCAOB Release No. 2024-004. The paragraph effective for fiscal years beginning before December 15, 2024 can be found here.]

.66       If, after discussing the matter as described in paragraph .65, the practitioner concludes that a material misstatement of fact remains, the action he or she takes will depend on his or her judgmentfn 30 in the particular circumstances. The practitioner should consider steps such as notifying the responsible party in writing of his or her views concerning the information and consulting his or her legal counsel about further appropriate action in the circumstances.

fn 30      Reference to the judgment of the practitioner throughout this standard has the same meaning as “professional judgment” as described in AS 1000, General Responsibilities of the Auditor in Conducting an Audit.