PCAOB: Proposed Auditing Standard - The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion

In this comment letter, the CAQ applauds the efforts of the Public Company Accounting Oversight Board (PCAOB) to consider ways to update and enhance the auditor’s reporting model to provide additional information to stakeholders in an increasingly complex and global environment. The CAQ recognizes that the PCAOB has been working diligently since the Concept Release on Possible Revisions to PCAOB Standards Related to Reports on Audited Financial Statements to develop an approach that is beneficial to all stakeholders. The letter presents the CAQ’s observations and suggestions on the PCAOB’s reproposal in the following categories: critical audit matters, additional improvements to the auditor’s report, applicability, and effective date.