In his speech, he discusses some of the current priorities of the PCAOB, a number of which are outlined in the Board's five year strategic plan.
The topics discussed are as follows:
Role of the Independent Auditor
- Investors are the Auditor's True Client
- Re-emergence of Concerns about Auditor Independence
- State of Audit Quality
- Improper Alteration of Audit Documentation
- PCAOB's Standard-Setting Activities
- Auditor's Reporting Model
- Technological Innovation in the Audit
In his conclusion, he encourages auditors to strive to improve audit quality, be vigilant in protecting independence from management, and not lose sight that the client is the investing public.
Review the speech on the PCAOB's website.