The Public Company Accounting Oversight Board’s Investor Advisory Group is asking for examples of critical audit matters or key audit matters that can be used for analysis.
The PCAOB’s Office of the Investor Advocate released an advisory last week asking the public to submit examples to the Investor Advisory Group by June 30.
The nominations can come from public company issuers (both management and boards), auditors, financial analysts and investors. They’re looking for the most decision useful CAM or KAM contained in public company audit reports included in the 2024 Form 10-Ks and Form 20-Fs. The PCAOB began requiring the disclosure of CAMs in 2019, while the International Auditing and Assurance Standards Board began requiring KAMs disclosures in 2016.
The IAG plans to choose what they believe to be the top three decision useful CAMs or KAMs for 2024 among those nominated. The CAMs or KAMs selected will be identified and discussed in an IAG report expected to be issued publicly later this year.
Each nomination (which may be submitted anonymously) should include an explanation (maximum five hundred words) of why the nominated CAM or KAM provides decision useful information to investors.
The IAG has asked the public to provide submissions to the IAG by June 30, 2025. For more details, see the IAG announcement available here. A similar announcement went out last year.
