How the war in Ukraine affects auditors’ responsibilities

By Ken Tysiac

Russia's invasion of Ukraine has created numerous challenges for companies and auditors in addition to the human toll it has caused.

To remind auditors of their obligation to comply with PCAOB standards and exercise due professional care, the PCAOB staff has published a Spotlight document for auditors of issuers and broker-dealers.

"Auditing Considerations Related to the Invasion of Ukraine" covers a range of audit-related matters, including:

  • Identifying and assessing risks;
  • Planning and performing audit procedures;
  • Possible illegal acts;
  • Reviews of interim financial information; and
  • Acceptance and continuance of clients and engagements.

The Spotlight also focuses on subsequent events, other information, and auditor reporting to assist with audits that are near completion.

The document reminds auditors to be aware of developments that may affect the company. As knowledge obtained from past audits or interim reviews may no longer be relevant in light of the current information environment, it is important for the auditor to understand how changes in events, conditions, and company activities affect risks of material misstatement and whether those changes give rise to new or different risks, according to the PCAOB staff.

— To comment on this article or to suggest an idea for another article, contact Ken Tysiac at

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