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PCAOB’s Top Inspector Shares Plans for 2016

Tammy Whitehouse | December 16, 2015

When audit inspectors head into the field in 2016 to begin inspecting work on 2015 financial statements, they will be looking closely at the audit of internal controls, accounting estimates, and how auditors responded to risks of misstatement.

Munter-helen-0415Those are the key themes that persisted in 2015 inspections of 2014 financial statements, said Helen Munter, director of inspections for the Public Company Accounting Oversight Board, although reports on those inspections are not yet published for companies to scrutinize. “Audit committees might wish to discuss with their auditors the types of audit deficiencies identified in their PCAOB inspections and ask how they are addressing these matters as part of their company’s audit,” she said at a...

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