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AUDITING

PCAOB to hold round table on auditor’s reporting model

 

By Ken Tysiac
February 27, 2014

The PCAOB will seek feedback on its auditor’s reporting model proposal during a public meeting to be held April 2–3 in Washington.

Panelists will be invited to share their views with the board on the proposal, which would include a requirement for auditors to identify and describe “critical audit matters” in their reports.

Critical audit matters would be items that caused the auditor the most difficulty in making judgments, obtaining sufficient appropriate evidence, or forming an opinion on the financial statements.

“We received many thoughtful, reasoned comments on the board’s proposal, and this public meeting is intended to further explore the issues,” PCAOB Chairman James Doty said in a news release.

The meeting, to be held at The Westin Washington, D.C., City Center Hotel, will be open to the public and webcast on the PCAOB’s website.

Ken Tysiac (ktysiac@aicpa.org) is a JofA senior editor.

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