March 11, 2005
PCAOB Considers Changes to Audit Reports
Yesterday, the PCAOB got an increase to its budget. For those who counted them out, look out! Here they come with more reforms to the audit standards for the nation's external auditors.
An article here from WEB CPA:
"PCAOB mulls reporting model reforms Regulator entertains proposals to abandon 'pass/fail' audit reports By Ken Rankin
Washington - Regulators at the Public Company Accounting Oversight Board are wrestling with proposals to abandon the current "pass/fail" auditor reporting model for informing investors of the accuracy of corporate financial statements - a move that could require independent accountants to provide considerably more information about the veracity of their clients' financial reports.
Whether the additional work and information will translate into more useful data for investors was a matter of considerable debate during the latest meeting of the PCAOB's Standing Advisory Group." Click here for the complete article.
To find out how your company can rapidly and effectively comply with Sarbanes-Oxley, see www.issuescentral.com for more information on the Sarbanes-Oxley Compliance Playbook(tm)
An article here from WEB CPA:
"PCAOB mulls reporting model reforms Regulator entertains proposals to abandon 'pass/fail' audit reports By Ken Rankin
Washington - Regulators at the Public Company Accounting Oversight Board are wrestling with proposals to abandon the current "pass/fail" auditor reporting model for informing investors of the accuracy of corporate financial statements - a move that could require independent accountants to provide considerably more information about the veracity of their clients' financial reports.
Whether the additional work and information will translate into more useful data for investors was a matter of considerable debate during the latest meeting of the PCAOB's Standing Advisory Group." Click here for the complete article.
To find out how your company can rapidly and effectively comply with Sarbanes-Oxley, see www.issuescentral.com for more information on the Sarbanes-Oxley Compliance Playbook(tm)
