The Public Company Accounting Oversight Board (PCAOB) will pay increased attention to how auditors are addressing changing risk landscapes because of the current economic environment during its 2022 inspections.
The PCAOB signaled its plan as part of a spotlight document released June 30. The organization will continue to focus on audit areas with continued deficiencies—e.g., revenue recognition, accounting estimates, and internal control over financial reporting—in addition to tailoring its inspections to reflect areas of heightened volatility during the relevant period.
