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U.S. Audit Regulator to Scrutinize Firms’ Pandemic Responses

April 6, 2021, 8:56 PM

The U.S. audit regulator plans to evaluate just how well auditors have responded to the changing risks their clients faced amid the pandemic as part of an annual cross-firm review.

The Public Company Accounting Oversight Board published its 2021 inspection plans Tuesday, reiterating that its top priority will be on how individual firms addressed pandemic-driven changes in financial reporting—from heightened fraud risks to changes to internal controls, even their reliance on digital documentation. That pandemic focus will extend to the board’s cross-firm reviews, which ...

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