Our points of view on audit and regulatory affairs

As a leading global network of auditing firms, we also aim to play a constructive role in the debates that will shape the future of auditing, financial reporting, regulation and corporate governance.

We invite you to read our views on some of the most vital issues now being debated in this area. We hope you will find these short point-of-view publications as stimulating as they are informative.

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Richard Sexton, Vice Chairman Global Assurance

“Both the PCAOB and IAASB exposure drafts have some bold and challenging suggestions - such as providing insight into key or critical matters that the audit focussed on - we now need to consider how these can be practically achieved,” said Richard Sexton, PwC’s Vice Chairman Global Assurance. “We are beyond a debate about the merits of change to the shape of the auditor’s report. Energies need to shift to begin working on what will be needed to deliver the new style reports.”

Richard Sexton, Vice Chairman Global Assurance

PwC Statement on IAASB release on enhancing the future auditors report

Following the recent release of exposure drafts by both the IAASB and the PCAOB, PwC welcomed the important steps towards making the auditor’s report more informative and relevant both auditing standard setters are taking.

We have played an active role in the consultations and debates leading up to these exposure drafts and we applaud the IAASB and the PCAOB for giving priority to making changes to the auditor’s report. Our research amongst investors shows their appetite for more information from the auditor – not abandoning the traditional auditor’s opinion on the financial statements but supplementing it with insights from the audit.


Dive deeper

PwC Regulatory Briefing: July 2016

Read PwC's quarterly regulatory briefing for July 2016

PwC Regulatory Briefing: April 2016

Read PwC's quarterly regulatory briefing for April 2016

PwC Regulatory Briefing: January 2016

Read PwC's quarterly regulatory briefing for January 2016

EU audit reform legislation - potential extra-territorial impacts

PwC Briefing Note on potential extra-territorial impacts of the 2014 EU audit legislation.

Auditor reporting - Momentum builds towards more informative reports

There is plenty of evidence that investors value the auditor’s opinion on the financial statements. They don’t want to lose it. But in the wake of the financial crises, investors and other stakeholders began to call for auditor’s reports to be more informative. Auditors have unique and relevant insight based on their audits and investors and other stakeholders are asking auditors to share some of that insight.

EU audit reform legislation – the facts

EU legislation to reform statutory audits was adopted in April. See a summary of the issues affecting the audit and requirements for public interest entities.

Auditor reporting - PwC's response to the IAASB

This PwC booklet provides an overview of all of the developments in audit reporting standards, as well as insight into what is being considered in the EU's proposed Audit Directive and Regulation.

Role of the audit committee

A look at the audit committee’s central role in effective corporate governance and external audit oversight, and how implementing a periodic comprehensive review of auditor performance can help build on this role.

Understanding the Financial Statement Audit

Download this essential PwC guide to the financial statement audit: from appointment of the auditors, reporting standards and audit process, to the final report and audit opinion.

Assurance today and tomorrow: Global survey of investors’ views 2012

Survey of 100 investment professionals globally about today’s audits, giving their views of how to boost the value gained from audit and assurance.