Auditors Told to Press Clients on Ukraine War’s Financial Blow

U.S. auditors should press corporate clients about the toll that Russian sanctions and the invasion of Ukraine could have on their financial results, their regulator said Thursday.

The Public Company Accounting Oversight Board released staff guidance to help auditors navigate the myriad risks they face, warning that extra time and effort could be needed to fully vet how companies are disclosing the financial impact to investors.

• Corporate America’s sudden withdrawal from Russia and related business disruptions due to the conflict in Ukraine could reduce revenue, trigger writedowns of abandoned property, and challenge how companies come up with estimates and valuations, ...