WOODLAND HILLS, Calif.--(EON: Enhanced Online News)--Robert Conway, Professional Practices Director at CNM LLP, has been published in Compliance Week, the leading information service on corporate governance, risk, and compliance. His article “The PCAOB Must Provide Better Guidance for ICFR” can be found in the November 22nd, 2016 issue of Compliance Week.
“The PCAOB Must Provide Better Guidance for ICFR”
Conway explains that public companies are at a disadvantage when it comes to understanding the demanding and evolving expectations of the Public Company Accounting Oversight Board (“PCAOB”) for audits of public company internal controls over financial reporting (“ICFR”). Auditors learn about those demanding expectations directly from the PCAOB’s rigorous inspection process, while public companies get the message second hand from their auditors. This paradigm has created unnecessary tension between auditors and their clients as to the scope of work and the documentation required to evidence that controls are operating effectively. Conway makes a compelling case for the PCAOB to level the playing field by providing uniform guidance to both auditors and public companies.
Robert Conway, prior to joining CNM, completed nine years at the Public Company Accounting Oversight Board (PCAOB), including six years as a Regional Associate Director with leadership responsibility for the organization’s Orange County and Los Angeles offices. Prior to the PCAOB, Conway enjoyed a 26-year career with KPMG, including 17 years as audit partner. At KPMG, Conway specialized in audits of companies in the technology, pharmaceutical, automotive, manufacturing, retailing, and transportation industries.
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