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Deloitte comment letter on the IAASB Invitation to Comment "Improving the Auditor’s Report"

Published on: Oct 07, 2012

Deloitte's Auditing Global Office has submitted a letter of comment responding to the IAASB's (1) progress in its deliberations related to improving the value of the auditor’s report and (2) consideration of unprecedented changes to the auditor’s report that are intended to enhance auditor reporting. 

The letter, which expresses the views of Deloitte's Auditing Global Office only, includes the following opinions:

  • We appreciate the IAASB’s efforts to obtain and consider the views of key stakeholders, including investors, preparers, regulators, governments, the business community, and auditors regarding the direction proposed by the Board for the future auditor’s report.
  • While acknowledging that this is a very difficult task, because, in part, of the diversity of perspectives and complexity of the issues under consideration, we encourage the Board to continue its deliberations to progress meaningful change to the auditor’s report as quickly as possible. We recognize that throughout future deliberations, continued consideration of the value and impediments of suggested improvements will remain important.

The letter, which can be downloaded below, outlines a number of points for the IAASB to consider in finalizing its proposed revised standard.


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