The Public Company Accounting Oversight Board is seeking commenton proposed changes that may require auditors of U.S.-registeredfirms to explain their findings rather than simply saying whetherrules were followed.

The PCAOB, the Washington-based watchdog for firms that reviewcompanies' books, issued a statement today on “possibleenhancements” of the model for the auditor's report, which itcalled a primary means for communicating with investors.

“The auditor is in a unique position to provide relevant anduseful information,” Martin F. Baumann, the PCAOB's chief auditorand director of professional standards, said in the statement. “Theconcept release explores ways to expand the auditor'scommunication” about a report and a company's financialstatements.

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