PCAOB extends comment period on engagement partner ID proposal

BY KEN TYSIAC

The PCAOB has extended the comment period on its reproposed standard that would require the engagement partner and certain other participants in the audit to be identified in the audit report.

The new deadline is March 17; the original deadline was Feb. 3. The board reproposed the amendments in December. The proposed amendments would require audit reports to disclose:

  • The name of the engagement partner who led the audit for the most recent period.
  • The names of, location of, and the percentage of total audit hours contributed by other public accounting firms that took part in the audit.
  • The locations of and percentage of total audit hours contributed by other persons (whether individuals or companies) not employed by the auditor who performed procedures on the audit.


Comments can be made electronically at comments@pcaobus.org by 5 p.m. on March 17.

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

SPONSORED REPORT

8 accounting and auditing issues you can’t afford to ignore

Download this sponsored report for an overview of some of the most important developments accountants and auditors are facing today.

DOWNLOAD

Filing season quick guide — Tax year 2014

Tax season started Jan. 20. Download our “quick guide,” a printable card that contains dollar thresholds, tax tables, standard amounts, credits, and deductions to keep at your fingertips during tax season.

TAX NEWS

Expired tax provisions extended for 2014

President Barack Obama signed legislation that retroactively extended more than 50 expired tax provisions for 2014, allowing taxpayers to take advantage of a host of tax incentives during this filing season.