PCAOB Announces Panelists and Agenda for Meeting on Auditor Reporting Model Proposal, Reopens Comment Period | Practical Law

PCAOB Announces Panelists and Agenda for Meeting on Auditor Reporting Model Proposal, Reopens Comment Period | Practical Law

The Public Company Accounting Oversight Board (PCAOB) announced the panelists and agenda for its April 2-3, 2014 public meeting on its auditor reporting model proposal. The PCAOB also reopened the comment period for the proposal.

PCAOB Announces Panelists and Agenda for Meeting on Auditor Reporting Model Proposal, Reopens Comment Period

by Practical Law Corporate & Securities
Published on 24 Mar 2014 • USA (National/Federal)
The Public Company Accounting Oversight Board (PCAOB) announced the panelists and agenda for its April 2-3, 2014 public meeting on its auditor reporting model proposal. The PCAOB also reopened the comment period for the proposal.
On March 20, 2014, the Public Company Accounting Oversight Board (PCAOB) announced the panelists and agenda for its April 2-3, 2014 public meeting on its August 2013 auditor reporting model proposal. If approved, the proposal would introduce two new auditing standards and related amendments that would change the standard auditor's report and give auditors responsibilities for information in company annual reports outside of the financial statements (see Legal Update, PCAOB Proposes Changes to Auditor Reporting Model).
The agenda for the meeting includes discussions on:
  • The proposed requirement for communication of critical audit matters as determined by the auditor, from both large and small company perspectives.
  • Auditor responsibilities for information in the annual report outside the financial statements.
  • Auditor tenure and other basic elements of the auditor's report.
  • Considerations specific to investment companies and brokers and dealers.
The PCAOB has reopened the comment period for the proposal until May 2, 2014.
Update: A recording and transcript of the roundtable are now available on the PCAOB's website.
For more information on the August 2013 proposal, see Legal Update, PCAOB Proposes Changes to Auditor Reporting Model.
For general information on auditing, see Practice Note, Auditing: An Overview.