On August 30, the Public Company Accounting Oversight Board (PCAOB) published a Staff Inspection Brief that offers guidance into the plan, scope and objectives of the 2017 inspections of registered auditors and their audits of issuers. The report provides insight into areas that will affect how preparers and issuers track, process and report financial information. Therefore, it is important for public companies to familiarize themselves with the report and prepare accordingly.
In this Flash Report, Protiviti outlines three areas the PCAOB has marked for scrutiny and notable areas of potential audit risk the PCAOB Inspection Staff will be looking at.