PCAOB advisory group members advocate greater communication between Board and stakeholders

By Amanda Maine, J.D.Members of the PCAOB’s Standing Advisory Group (SAG) echoed sentiments expressed in a recent PCAOB survey about improving the Board’s communication with auditors, investors, audit committees, and other stakeholders. Several members urged the Board to disseminate more information relating to the inspections process, while others would like to see more communications between the PCAOB and audit committees.Survey results. Barbara Vanich, acting director of the Office of the Chief Auditor, presented the results of a PCAOB survey on communications to the SAG. Respondents were surveyed about the types of PCAOB communications they use. Coming in first was the staff’s Audit Practice Alerts at 79 percent. According to the survey, 71 percent used implementation guidance, 63 percent used inspection observations, 50 percent used inspection briefs, and 46 percent used PCAOB Q&As on rules and forms. In addition, 58 percent cited communications…

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