PCAOB to hold round table on auditor’s reporting model

BY KEN TYSIAC

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.

SPONSORED REPORT

6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.

PODCAST

How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.