Critical Audit Matters: Key Concepts and FAQs for Audit Committees, Investors, and Other Users of Financial Statements

This CAQ publication is designed to promote understanding of critical audit matters (CAMs), a new component of the auditor’s report required by a standard adopted in 2017 by the Public Company Accounting Oversight Board. The publication provides definitions, key concepts, implementation deadlines, frequently asked questions about CAMs, and side-by-side comparisons of US and international standards on expanded auditor reporting.