TheCorporateCounsel.net

Last week, the PCAOB released a staff Spotlight document, “Auditing Considerations Related to the Invasion of Ukraine.” The Spotlight highlights important considerations for auditors of issuers and broker-dealers as they plan and conduct audits in this evolving environment.

The PCAOB guidance addresses a number of audit-related matters, including:

– Identifying and assessing risks;
– Planning and performing audit procedures;
– Possible illegal acts;
– Reviews of interim financial information; and
– Acceptance and continuance of clients and engagements.

For audits nearing completion, the Spotlight addresses considerations with respect to subsequent events, other information, and auditor reporting.

– Dave Lynn