The PCAOB released expanded details regarding its list of priorities for 2023 audit inspections, most notably risk of fraud, risk assessment and internal controls, and auditing and accounting risks.
Spotlight: Audit Committee Resource is a series of questions “that may be of interest to audit committee members to consider amongst themselves or in discussions with their independent auditors.”
The PCAOB resource advises that auditors can ask several questions related to fraud risk. The board also released questions about digital assets, merger-and-acquisition activities, use of the work of other auditors, independence, critical audit matters, and cybersecurity. Learn more.