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PCAOB issues staff guidance on auditor’s report

  • PCAOB (US Public Company Accounting Oversight Board) Image

Dec 07, 2017

The PCAOB has issued “Staff Guidance — Changes to the Auditor’s Report Effective for Audits of Fiscal Years Ending on or After December 15, 2017.”

The staff guidance dis­cusses key changes in the auditor’s report with respect to the following:

  • The form of the auditor’s report.
  • Addressees.
  • Auditor independence.
  • Auditor tenure.
  • Auditor reporting regarding internal control over financial reporting.
  • Explanatory and emphasis paragraphs.
  • Information about certain audit participants.

In addition, the staff guidance provides a high-level overview of the requirements related to critical audit matters.

For more in­for­ma­tion, see the press release and staff guidance on the PCAOB’s Web site. Also see Deloitte’s June 20, 2017, Heads Up for a summary of changes to the auditor’s report.

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