Goodwill, Revenue Called Out in First Extended Audit Reports

Sept. 16, 2019, 10:55 AM

When Procter & Gamble Co. announced it would book an $8 billion impairment charge for its Gillette brand in July, the writedown wasn’t just reflected on its balance sheet or its earnings per share.

The company’s auditors at Deloitte LLP also took note, highlighting the goodwill impairment evaluation as a critical audit matter, referred to as a CAM.

Procter & Gamble was among the first batch of the largest U.S. companies to feature a newly required, extended audit report in its annual financial statement. The expanded audit report adds to the mix of information investors have available when considering the ...

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