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PCAOB announces open meeting to consider adoption of changes to the auditor’s report and proposal of new requirements related to auditing accounting estimates and use of specialists

  • PCAOB (US Public Company Accounting Oversight Board) Image

May 24, 2017

The PCAOB has announced that it will hold an open meeting on June 1 at 10:00 a.m. (EDT) to consider (1) adopting a standard that would change the auditor’s reporting model and (2) proposing new requirements related to the auditing of accounting estimates and the use of specialists.

The open meeting will be streamed live via a link on the PCAOB’s Web site, and a recording will be available shortly after the meeting concludes.

If the PCAOB approves adoption of the standard, it will be submitted to the SEC for its consideration, which includes a public comment period. The PCAOB has not publicly stated the proposed effective date for the standard.

For more information, see Deloitte’s May 27, 2016, Audit & Assurance Update on the PCAOB’s proposed changes to the auditor’s model and Deloitte’s July 1, 2015, Heads Up on the June 18, 2015, meeting of the PCAOB’s Standing Advisory Committee, at which auditing accounting estimates and the use of specialists were discussed.

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