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.

VIDEO

Excel walk-through: Sparklines

Want to liven up your spreadsheets with some color and graphical elements? Kelly L. Williams, CPA, Ph.D., shows how to use Excel sparklines, which illustrate data trends and patterns via small charts that fit in a single Excel cell.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.