Topic
Auditor Reporting
22 published works
Global Regulation Tomorrow
PRA statement on the evaluation of the Written Auditor reporting policy
On 29 September 2023, the PRA issued a statement setting out its conclusions following an evaluation of the Written Auditor reporting policy, to assess how it is delivering against its…
Global Regulation Tomorrow
PRA letter – ‘Thematic feedback from the 2020/2021 round of written auditor reporting’
On 30 September 2021, the PRA published a letter (dated 29 September 2021) which it had sent to the chief financial officers of selected deposit-takers which provides thematic feedback from…
Free Writings + Perspectives
Due Diligence Questions relating to Critical Audit Matters
As we have previously blogged, public companies are now required to describe critical audit matters (CAMs) in their publicly filed auditor reports. CAMs inform investors and other financial statement users…
Global Regulation Tomorrow
PRA Dear CFO letter to selected deposit takers on written auditor reporting – thematic feedback from the 2018/2019 reporting period
On 2 October 2019, the PRA published a Dear Chief Financial Officer letter (Dear CFO letter) that it had sent to selected deposit takers which provided formal thematic feedback on…
Free Writings + Perspectives
Lessons Learned from CAM Dry Runs
In 2017, the Public Company Accounting Oversight Board ("PCAOB") adopted a new standard for auditor's reports that requires a description of critical audit matters ("CAMs") designed to provide investors with…
Subject to Inquiry
SEC Approves New PCAOB Standard
By Government Investigations Group
Recently, the SEC approved the PCAOB’s new auditor reporting standard, AS 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion. Hailed as…
Corporate & Securities Law Blog
SEC Approves New Audit Reporting Standard Requiring Auditors to Disclose More Detailed Information Learned During the Audit
On October 23, 2017, the Securities and Exchange Commission approved the Public Company Accounting Oversight Board’s (“PCAOB”) proposal to adopt a new auditing standard, AS 3101. AS 3101 will require…
The Securities Edge
A missed opportunity (or, when more is less)
Loyal readers of this blog won’t be surprised that we’re disappointed that the SEC has again perfunctorily approved another proposal of the Public Company Accounting Oversight Board, or PCAOB. (If…
Corporate & Financial Weekly Digest
SEC Approves PCAOB Rule to Require Enhanced Audit Reports
By Mark D. Wood, Mark J. Reyes, Alyse A. Sagalchik
On October 23, the Securities and Exchange Commission approved new audit reporting standard, AS 3101, proposed by the Public Company Accounting Oversight Board (PCAOB), which requires auditors to provide new…
Capital Markets
Locke Lord QuickStudy: Audit Report Revamp Approved by SEC
On October 23, 2017, the SEC approved1 the adoption of AS 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion2 and related amendments to other…