PCAOB Proposed Auditor Reporting Model Changes: Evaluating auditor assurance on information outside of the financial statements

May 2012
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Point of view: PCAOB Proposed Auditor Reporting Model Changes: Evaluating auditor assurance on information outside of the financial statements

At a glance

PwC examines, and shares our views on, the PCAOB's concept release on the auditor's reporting model including auditor assurance on information outside of the financial statements.

Highlights

  • 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.