Microsoft Discloses Critical Audit Matters

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Jessica McKeon and Nicole Hallas, Audit Analytics

As defined by the PCAOB, a critical audit matter is any matter arising from the audit of the financial statements that was communicated, or required to be communicated, to the audit committee and that (1) relates to accounts or disclosures that are material to the financial statements and (2) involved especially challenging, subjective or complex auditor judgment.

In this article, Audit Analytics analyzes Microsoft’s August 2019 annual report, which provided a wealth of information in addition to one of the first disclosures of critical audit matters from a large accelerated filer.

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