Transparency bolsters confidence in our capital markets - and can drive audit quality.
A pair of PCAOB proposals would, if adopted, empower investors, audit committees, and others with consistent, comparable data to help them make more informed decisions and hold audit firms accountable.
One proposal would, for the first time, require certain audit firms to publicly report in 11 standardized metric areas about firms and the individual audits they work on.
These metric areas include, among others:
• Partner and manager involvement
• Workload
• Experience of audit personnel
• Retention and tenure
• The firm’s restatement history
A separate proposal would modernize the PCAOB’s annual and special reporting requirements, which have not been substantively updated in more than 15 years.
The proposal would enhance reporting on a variety of topics, including firms’ financial and governance information and their plans to guard against cyberthreats.
Together, these two proposals would increase transparency and strengthen confidence, oversight, and accountability.
Read the proposals and send us your input.
Comments are requested by June 7, 2024.
Visit www.pcaobus.org/investors for more resources and information.
This video was posted on May 21, 2024.
20 май 2024
