PwC submitted a comment letter on the PCAOB’s reproposal of a new auditing standard on the auditor’s reporting model. We support changes to the auditor’s report that will be responsive to the feedback provided by users while also maintaining or improving audit quality. We appreciate the PCAOB’s consideration of comments received on earlier proposals, and believe a number of changes from the earlier proposals will allow for a more practical approach and mitigate certain unintended consequences. In our letter, we offer suggestions for the Board’s consideration as it moves to the next phase of this project.
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