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SEC opens comment period on the PCAOB’s changes to the auditor’s report

  • SEC (US Securities and Exchange Commission) Image
  • PCAOB (US Public Company Accounting Oversight Board) Image

Jul 28, 2017

On July 28, 2017, the PCAOB’s proposed rules on the auditor’s report on the audit of financial statements were published in the Federal Register. Comments on the proposed rules are due to the SEC by August 18, 2017.

If approved by the SEC, the new standard will significantly modify the auditor’s reporting model. While the new standard will retain the current “pass/fail” approach, it will also significantly increase the informational value of auditors’ reports.

For more information, see the related SEC release as well as Deloitte’s June 1, 2017, article and June 20, 2017, Heads Up on the standard.

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