September 20, 2018

Auditor’s Opinion

The Ideas in This Revamped Auditor’s Report Are Great Because Audit Firms Will Hate Most (if Not All) of Them

Michael Rapoport at the Wall Street Journal has a great article today that gives us a good idea of what kind of information would be contained in a useful auditor's report since we all know that, in its current form, it's more or less useless. This is not hyperbole, since a study entitled "Improving the Auditor's Report" from 2011 […]

Who’s Ready for Changes to the Auditor’s Report?

“We heard from investors that they want more information in the auditor’s report. Investor dissatisfaction with the current auditor’s reporting model should concern other constituents as well, including preparers, auditors and regulators,” said PCAOB Chairman James R. Doty. “Today’s report from our own staff, based on their discussions with a broad audience, will be vital to the Board’s effort to develop a meaningful proposal for change in a concept release. Our intention is to expose such a release as early as this summer.” [PCAOB]