PCAOB Proposed Auditor Reporting Model Changes: Evaluating auditor assurance on information outside of the financial statements
Point of view
- Investors value the current auditor's report but want more insight from auditors.
- The time is right to consider changes that will enhance the relevancy and transparency of audits to investors.
- Additional assurance on a company's information that is reported outside of the financial statements could improve the quality, completeness, and reliability of the information.
- Any approach to be implemented should ensure that the benefits of increased assurance provide value to investors and outweigh the added costs.