PCAOB Releases Staff Publication on Auditor’s Responsibilities Related to Examining Journal Entries

The PCAOB has released a staff publication on auditors’ responsibilities related to examining “journal entries and other adjustments for evidence of possible material misstatement due to fraud.” Specifically, the publication, which is part of the PCAOB’s new Audit Focus series, “highlights key reminders for auditors from the PCAOB standards related to testing of journal entries, provides the staff’s perspective on common deficiencies made by auditors, and shares good practices that PCAOB staff has observed.”