Thomas Ray, Distinguished Lecturer at Baruch College, teaches auditing. Prior to joining the Baruch faculty, Tom was the head of the Audit Group in KPMG LLP’s Department of Professional Practice and was Chief Auditor and Director of Professional Standards at the Public Company Accounting Oversight Board (PCAOB). At the PCAOB, he advised board members on the establishment and application of auditing, quality control, ethical, and independence standards for audits of U.S. public companies. Tom is a licensed CPA and provides consulting services on the application of professional practice standards by CPAs. He is also a member of the COSO Advisory Council.
In part two of this two part blog series, Thomas Ray details seven ways management can respond to the concerns of conflicting audit evidence and help their company’s auditor satisfy its responsibility.