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.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.