The Public Company Accounting Oversight Board ("PCAOB") issued guidance to support the implementation of new critical audit matter ("CAM") requirements. The PCAOB staff guidance includes three documents: (i) "Implementation of Critical Audit Matters - The Basics," (ii) "Staff Observations from Review of Audit Methodologies" and (iii) Implementation of Critical Audit Matters - Deeper Dive on Determination of CAMs. PCAOB stated that "these documents primarily offer insights for auditors, [however] the high-level overview — "The Basics" — may also be of interest to preparers, audit committees, and investors."

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