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CAQ Releases Tool for Audit Committees Regarding Form AP Disclosures

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Jun 20, 2017

On June 20, 2017, the Center for Audit Quality (CAQ) published a tool to aid audit committee members in their understanding of new auditor disclosure requirements from the PCAOB regarding audit participants.

The Form AP – Auditor Reporting of Certain Audit Participants: A Tool for Audit Committees is intended to: (1) assist audit committees in discussing the role of audit participants with their engagement partner and company management; and (2) help prepare audit committee members to anticipate potential questions that may arise as a result of these new disclosures.

To those ends, the tool provides a summary of Form AP disclosure requirements, as well as suggested questions regarding disclosure of the engagement partner and participation of other accounting firms.

Review the press release and the Form on the CAQ's website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.