PwC responded to the SEC's public consultation on the PCAOB's adoption of a new auditing standard addressing enhancements to the auditor's report. PwC supports changes to the auditor's report that are responsive to the feedback provided by users, while also maintaining or improving audit quality. Most notably, the PCAOB's standard would require auditors to communicate critical audit matters (or CAMs) in the auditor's report for certain entities. The auditor's report would also include a statement containing the year the auditor began serving consecutively as the company’s auditor (“auditor tenure”).
Learn more from our In brief 2017-15, PCAOB adopts new standard enhancing auditor reporting.
© 2016 - 2021 PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.