PCAOB issues auditing standard to enhance report | KPMG | US
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PCAOB issues auditing standard to enhance auditor’s report

PCAOB issues auditing standard to enhance report

The Public Company Accounting Oversight Board (PCAOB) issued a new auditing standard (AS 3101) that is reported to represent the most meaningful change to the auditor’s report since the 1940s.


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The new standard is intended to enhance the auditor’s reporting model by:

  • Requiring the auditor to communicate critical audit matters
  • Adding new elements related to the auditor’s independence and tenure
  • Enhancing certain standardized language
  • Standardizing the form of the auditor’s report


Read a June 2017 report prepared by KPMG LLP: Defining Issues: PCAOB issues auditing standard to enhance auditor’s report

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