PwC's comment letter expresses support for the AICPA's efforts to strengthen its auditor independence standards and help clarify the client affiliates with respect to which members should maintain independence when performing financial statement attest services for a state or local government entity. However, the letter states that, because the AICPA's proposal represents such a significant change to the identification of affiliates, it warrants further study and refinement. PwC believes this is necessary to ensure that the proposal’s impact is fully understood and any potential unintended consequences are adequately addressed before final adoption.
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