Point of view: PCAOB Proposed Auditor Reporting Model Changes: Evaluating expanded use of emphasis paragraphs
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 the audit report.
- Expanded use of emphasis paragraphs will guide investors in navigating disclosures and identifying management's most significant judgments and estimates.
- The greater forcus on these disclosures also will reinforce the roles that audit committees, management, and auditors have in attaining high-quality financial reporting.