BAN2013. Overview of New PCAOB Auditing Standards Related to Auditing Accounting Estimates and Use of Specialists, and Update and Lessons Learned for Reporting Critical Audit Matters

This session will provide an overview of the new requirements for auditing accounting estimates and disclosures, including fair value measurements, and the auditor’s use of specialists, including management’s specialists and specialists employed and engaged by the auditor, including indirect impacts on management and staff involved and responsible for the preparation of the financial statements. The presenters will provide an update and lessons learned for reporting critical audit matters, including trends in the banking industry.

Learning Objectives:

• Summarize highlights of the significant changes, related to auditing accounting estimates and use of specialists, and considerations for both auditors and management
• Discover lessons learned in 2020 related to critical audit matters, including trends in the banking industry