Auditors and Compliance: Part 2-Ten Key Takeaways for Compliance Professionals
The PCAOB’s recent information release, SPOTLIGHT Auditor Responsibilities for Detecting, Evaluating, and Making Communications About Illegal Acts , is a critical guide for compliance professionals. The SPOTLIGHT sets out the role of auditors in assessing a company’s compliance with laws and regulations, particularly how auditors must identify, evaluate, and communicate potential illegal acts. However, for compliance officers, the SPOTLIGHT highlights areas where compliance and audit functions intersect and emphasizes collaboration’s importance to maintaining regulatory adherence and upholding financial integrity. Yesterday, we reviewed the roles and duties assigned to auditors. Today, we will dive into the 10 key takeaways for compliance professionals, outlining what they need to know to align their efforts with audit processes and effectively support their organization’s commitment to compliance. Understand the Auditor’s Role in Id...