More than a quarter of companies citing COVID-19 in their critical audit matters (CAMs) filed with the Public Company Accounting Oversight Board (PCAOB) are part of the financial services industry, according to research from Audit Analytics.
A study published Wednesday focused on approximately 2,700 audit opinions containing CAMs for listed companies with fiscal years ending after March 1, 2020. Of those opinions, only 12.7 percent included at least one reference to COVID-19, according to Audit Analytics. Drilling deeper into those opinions, 25.4 percent originated from companies in financial services.
