Critical Audit Matters (CAMs): Managing and Overcoming Audit Reporting Challenges
With significant changes affecting audit reports of large accelerated filers, critical audit matters (CAMs) are expected to be one of this year’s top issues in focus. CAMs is considered as the first substantial change to the US auditor's report in over 70 years, as part of the Public Company Accounting Oversight Board's (PCAOB) plans to improve audit quality and auditor reporting.
As dramatic changes occur in the backdrop, challenges and issues also start to arise, making it more imperative to effectively manage and understand CAMs.
In this LIVE Webcast, a seasoned panel of thought leaders and professionals will provide the audience with an in-depth analysis of the critical audit matters (CAMs). Speakers will thoroughly discuss its requirements, considerations, and purposes. They will also present practical tips and strategies to manage and overcome audit reporting challenges.
- Overview of Critical Audit Matters
- CAM’s Requirements, Considerations, and Purposes
- Arising Questions and Potential Challenges
- Practical Tips and Strategies
- What are CAMs and what CAMs are not
- How to identify CAMs and communicate them
- Documenting what was considered for CAM but determined not to be CAM
- Recent findings from CAMs that have been included in the first set of reports
- Challenges to make CAMs effective
- Views of audit committees and investors overall on the usefulness of CAMs.
Gunjan Sanghi is a Managing Director at Ankura based in Washington, DC. He has over 20 years of experience in regulatory oversight with the Public Company Accounting Oversight Board (PCAOB) and assurance and advisory services with Big Four public accounting firms in the US and internationally. Before joining Ankura in 2019, Gunjan was advisor to one of PCAOB’s board members and advised on both policy-setting and rule-making activities.
Gunjan Sanghi is a Managing Director at Ankura based in Washington, DC. He has over 20 years of experience in …
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Method Of Presentation:
General knowledge of audit reporting
NY Category of CLE Credit:
Areas of Professional Practice
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