Current Resources for Audit Committees
The Center for Audit Quality has released a resource for audit committees in their oversight of risk and financial reporting. The materials provide key reminders for auditors related to their responsibilities to identify, assess, and respond to risks of material misstatement and also may be helpful in oversight of external audit. CAQ cautions that their resource is intended as general information and should not be relied upon as being authoritative or all-inclusive, or a substitute for PCAOB and SEC rules, standards, guidance, or other resources. In addition, the AICPA also has released a resource, Audit Committee Checklist for COVID-19, which provides questions for audit committee members to consider as they oversee management and governance functions amid the global pandemic.