OUR THOUGHTS ON:

PCAOB Proposes Further Transparency with Disclosure of Engagement Partner

Public Companies

By Steven Thompson

On October 11, 2011, the PCAOB proposed for public comment standards that would require public company auditing firms to disclose the name of the engagement partner responsible for signing the opinion in the audit report for an SEC registrant. In addition, the standards would require additional disclosure of the names of any other accounting firms that assisted in performing the audit. The PCAOB believes this information would be valuable, particularly internationally when smaller firms are performing portions of the audit and their country does not allow the PCAOB inspection process. The PCAOB believes that these disclosures would expand the transparency of the auditors and provide investors with additional information on key participants in an audit to make more informed decisions. The PCAOB will be soliciting comments on this proposal through early January 2012.

© 2011 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.
This advice is not intended or written to be used for, and it cannot be used for, the purpose of avoiding any federal tax penalties that may be imposed, or for promoting, marketing or recommending to another person, any tax-related matter.

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at contactSD@schneiderdowns.com.

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2018 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

comments