There’s only ten days until the new audit report debuts, so the PCAOB Staff Guidance is likely required reading for professional opiners and CPA exam candidates alike.
The explanation for reporting of auditor tenure takes two pages and the guidance even allows for a little freestyle:
AS 3101 does not specify a required location within the auditor’s report for the statement on auditor tenure. The example auditor’s report (on page 2) includes the statement on auditor tenure at the end of the report; however, auditors have discretion to present auditor tenure in the part of the auditor’s report they consider appropriate
I’m sure the sharpest of auditors out there will have more to say about the finer points. Enjoy.