The AICPA Auditing Standards Board (ASB) is requesting input from members and other stakeholders to help form its comments on the consultation paper, Enhancing the Value of Auditor Reporting: Exploring Options for Change (Consultation Paper), issued by the International Auditing and Assurance Standards Board.
The IAASB paper is aimed at gathering views from around the world on whether there is consensus about the need to enhance auditor reporting and, if so, how an enhanced reporting model might be achieved. It describes issues with current financial reporting, including a perceived “information gap” identified by some stakeholders. The paper also sets out possible options for change and seeks input in as to whether such options might be effective in narrowing the “information gap” or enhancing the communicative value of the auditor’s report.
See full Press Release.
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