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Current Developments for mutual fund audit committees: 30 September, 2011
On June 21, 2011, the Public Company Accounting Oversight Board (“PCAOB” or the “Board”) issued for public comment, its concept release Possible Revisions to PCAOB Standards Related to Reports on Audited Financial Statements. The Board additionally held a public roundtable meeting on this topic on September 15, 2011. This concept release discusses potential changes to the auditor’s reporting model. A complete list of the topics discussed include:
- PCAOB concept releases - auditor reports and audit firm rotation
- Exchange-traded funds
- Regulatory developments
- Tax developments (New proposed regulations address swap issues)
