In our letter we detail our views on the following: Support for modernizing AS 2305 with principles-based requirements. Importance of risk assessment and professional judgment in designing and performing substantive analytical procedures. Specific feedback, including: More clearly defining the term “company’s amount” within the Proposed Standard to better differentiate the term from other recorded...

This comment letter is a supplement to the comment letters we submitted to the PCAOB on June 7, 2024 in response to recent Public Company Accounting Oversight Board (PCAOB or the Board) Proposals, Firm and Engagement Metrics and Firm Reporting (Proposals or Proposed Requirements). We continue to echo the points...

In this letter, the CAQ responds to the SEC’s notice to solicit comment on the Amendments Related to Aspects of Designing and Performing Audit Procedures that Involve Technology-Assisted Analysis of Information in Electronic Form (Final Standard or Adopting Release) adopted by the Public Company Accounting Oversight Board’s (PCAOB or the...

In this comment letter, the CAQ responds to the SEC’s notice to solicit comment on QC 1000, A Firm's System of Quality Control and Other Amendments to PCAOB Standards, Rules, and Forms, as adopted by the PCAOB Board.    In our letter we detail our views on the following:  As we have consistently...

In this comment letter, the CAQ responds to the SEC’s notice to solicit comment on AS 1000, General Responsibilities of the Auditor in Conducting an Audit and Amendments to PCAOB Standards, as adopted by the PCAOB Board.   In our letter we detail our views on the following:  We welcome the efforts of...

In this comment letter, the CAQ’s Smaller Firm Task Force (SFTF) provides views regarding the totality of the PCAOB’s standard setting activities, including its recent Proposals, Firm and Engagement Metrics and Firm Reporting. In this letter, the SFTF details their views on the following : Importance of smaller businesses to the overall...

On September 19, 2023, the Public Company Accounting Oversight Board (PCAOB or Board) proposed to amend PCAOB Rule 3502, Responsibility Not to Knowingly or Recklessly Contribute to Violations, the Board’s rule governing the liability of associated persons who contribute to a registered public accounting firm’s primary violation: First, the Board proposed...

In our letter we detail our views on the following: Support for an alternative approach to disclosure of certain firm-level metrics that is scalable; Support for an alternative approach that focuses on discussion related to certain engagement-level metrics with the audit committee; Overall concerns related to the PCAOB’s Proposal, including: Certain of the proposed...