PwC comments on ASB’s proposal on auditor involvement with exempt offering documents

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Comment letter , PwC US Oct 13, 2016

PwC supports clarifying what is expected of auditors related to exempt offering documents.

Overview

PwC submitted a comment letter on the ASB’s Proposed Statement on Auditing Standards (SAS) on auditor involvement with exempt offering documents. We believe the Proposed SAS will help to clarify what actions constitute involvement with an exempt offering and the auditor requirements with respect to such offerings. In particular, we agree with the activities the ASB has identified that trigger involvement. We also support the procedures required when the auditor is deemed involved with an exempt offering document, which focus on reading the exempt offering document and considering and responding to subsequent events. In our letter, we offer some suggestions where we believe clarifications would improve the Proposed SAS.

Contact us

Heather Horn

Heather Horn

US Strategic Thought Leader, National Professional Services Group, PwC US

David Schmid

David Schmid

International Accounting Leader, National Professional Services Group, PwC US

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