PwC supports the objectives of the proposed SAS to avoid unintended changes to previous practice and to enhance clarity.
PwC submitted a comment letter supporting the Auditing Standards Board’s (ASB) proposed Statement on Auditing Standards to amend AU-C section 920, Letters for Underwriters and Certain Other Requesting Parties, As Amended (the proposed SAS). We support the objectives of the proposed SAS to avoid unintended changes to previous practice and to enhance the clarity of the guidance. We recommend that the ASB do the following in finalizing the SAS:
Our letter also identifies a number of editorial changes for the ASB’s consideration.
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