Season 2 - EPISODE 2: Critical Audit Matters, George Botic, Board Member | PCAOB
The Lease Alert
Join me, Matt Waters, on The Lease Alert as we dive into the intricacies of critical audit matters (CAMs) with PCAOB board member George Botic in Season 2, Episode 2. We explore the significance of CAMs, their role in enhancing transparency, and the impact on financial reporting. George shares insights on how CAMs bridge the information gap for investors and why their frequency might be declining. We also discuss the top three CAMs in lease accounting: impairment, fair market value, and incremental borrowing rate. As we navigate the complexities of accounting, I emphasize the importance of specialists in the field and introduce the Certified Global Lease Accountant program, which aims to address the accounting talent shortage. Tune in to understand what keeps auditors awake at night and how CAMs play a crucial role in financial audits.
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