Under new rules in the US Microsoft’s auditor, Deloitte, has identified revenue recognition and uncertain tax positions as CAMs (critical audit matters) in the company’s latest annual report.

Filed on 1 August 2019, Microsoft’s annual financial statement filed highlighted two CAMs. The new requirement for CAMs is a result of the PCAOB’s 2017 standard AS 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion, which made significant changes to the auditor’s report.

The standard is intended to make the auditor’s report more informative and relevant to investors and other financial statement users by shedding light on areas of the audit requiring especially challenging, subjective, or complex auditor judgment. 

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