Large accelerated filers saw an average of 1.8 issues called out by auditors as “critical audit matters” in their first round of reporting, according to analysis by Deloitte.
Across the 52 large accelerated filers with fiscal years ending June 30, 2019, the first round of CAMs called out goodwill and intangible assets more than any other accounting issue, followed by revenue and income taxes. Roughly one-third of CAMs reported in mid-2019 involved goodwill and intangible assets, while revenue drove roughly one-fifth.
