Auditors Prepare for PCAOB Audit Reporting Changes

With the PCAOB possibly implementing a new audit reporting model, companies and their financial teams are bracing for changes.

In an article from Accounting Today, author Michael Cohn writes, “The PCAOB voted for the new standard in June after years of work and a series of proposals that attracted extensive industry feedback. The SEC has not yet approved the standard, although it typically has rubberstamped any new rules approved by the PCAOB”.

In the article Cohn discusses:

• The question of transparency
• More than just a pass/fail model
• What the future may hold for auditing and accounting

Will the SEC reject the proposed changes? How is your accounting firm gearing up for the possible audit reporting changes?

To read more, see the full article from Michael Cohn in Accounting Today.