Audit Committee Brief: September 2011Auditor’s report may undergo significant changes |
The Public Company Accounting Oversight Board (PCAOB) is exploring alternatives to the current reporting model and seeking feedback from financial statement users regarding potential changes to the form and content of the auditor’s report. A recent PCAOB concept release detailed several alternatives for supplementing the current report. Audit committee members and management should consider actively participating in discussions on this issue and submitting comment letters, as the proposed changes may have a significant effect on communication with the auditors and the role of the audit committee itself.
Audit Committee Brief: September 2011
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