This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Feedback on the PCAOB’s Reproposed Changes to the Auditor's Report

Published on: Oct 14, 2016

This Audit & Assurance Update discusses feedback on PCAOB Release 2016-003, Proposed Auditing Standard — The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion and Related Amendments to PCAOB Standards, which reproposes changes to the auditor’s reporting model (the “reproposal”). As discussed in Deloitte’s May 27, 2016, Audit & Assurance Update, PCAOB Reproposes Changes to the Auditor's Report, those changes are intended to increase the informational value, usefulness, and relevance of the auditor’s report. While still retaining the current “pass/fail” approach, the reproposal includes several significant modifications to the auditor’s report. Comments on the reproposal were due to the PCAOB by August 15, 2016, and 88 comment letters were received. The level of support for the reproposal varied among the commenters. Overall, most responders supported the PCAOB’s objectives and appreciated the efforts the PCAOB made to address concerns and suggestions previously raised related to the PCAOB’s originally proposed changes to the auditor’s report. However, many commenters expressed further concerns and objections regarding certain aspects of the reproposal, as well as the potential effects, as discussed within this Audit & Assurance Update.

This publication was released by our US firm.


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.