The Public Company Accounting Oversight Board recently proposed amendments to the standard audit report that would require the disclosure of critical audit matters (CAMs), and the Securities and Exchange Commission continues to evaluate the use of principles-based (imprecise) accounting...

The U.S. Public Company Accounting Oversight Board recently proposed changes to the audit reporting model that would require auditors to disclose areas of high audit risk within the audit report. Concerns about the proposal's potential to increase auditor liability have been raised by...