In early December, the PCAOB issued a release indicating that accounting and auditing professionals need to be skeptical regarding their work.
The PCAOB is suggesting that professionals in the accounting and auditing profession must be critical of their oversight responsibilities with their clientele. Regulators expect them to continue to exercise that skepticism in their judgments as they work through audits and other accounting functions. If such skepticism is missing, the PCAOB seems to infer that there could be consequences.
Accordingly, PCAOB is watching for this skepticism, auditors and accountants exercise it.