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PCAOB issues more guidance on new audit disclosures

Tammy Whitehouse | August 27, 2018

Regulators have issued more guidance to auditors about how they should comply with requirements to add new information to audit reports.

It’s the second round of guidance to auditors as they begin to comply with a new auditing standard, AS 3101, which revises the audit report to include new disclosures. The most significant change to the audit report under the new standard is a requirement for auditors to disclose “critical audit matters” that they identified and addressed during the audit.

The PCAOB first issued guidance to auditors in December 2017, largely pertaining to...

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