On May 15, 2025, the PCAOB released a Spotlight report with high-level observations and takeaways from interviews the staff conducted with audit committee chairs last year. The report identifies some of the topics audit committee chairs spent most of their time discussing with their auditors in 2024, including: (1) factors affecting their relationships with audit firms, such as two-way communication with the audit firm, coordination between the auditor, management, and the audit committee, and the technical expertise of the audit team; (2) firm inspection reports; (3) the economic environment effecting the audit; (4) the application of existing auditing and accounting standards, including critical audit matters (CAMs); and (5) the impact of emerging technology on the audit.

 

The report is available here.