November 12, 2020
Published: PCAOB
The PCAOB released a resource for audit committees on our new requirements related to auditing accounting estimates, including fair value measurements, and using the work of specialists. The requirements will take effect for audits of financial statements for fiscal years ending on or after December 15, 2020.
To help audit committees enhance their understanding in this area, this resource provides the basics of the new requirements, key takeaways for audit committees, and questions to consider asking auditors.
The Board is committed to proactively and directly communicating with audit committee members, and we hope these resources are informative and useful as we work to enhance our engagement.

http://aechile.cl/wp-content/uploads/2020/11/Audit-Committee-Resource-Estimates-Specialists.pdf