PCAOB PLANS CHANGES IN AUDITOR REPORTS

Washington, D.C. - The Public Company Accounting Oversight Board has been doing outreach to gauge the views of investors, auditors, statement preparers and others on potential changes to the auditor's reporting model, and plans to propose changes as soon as this summer.

Board members recently heard a presentation from the PCAOB's Office of the Chief Auditor on the results of the outreach effort to date, and in March, the PCAOB Investor Advisory Group also presented recommendations to the board on changes to the auditor's report.

"We heard from investors that they want more information in the auditor's report. Investor dissatisfaction with the current auditor's reporting model should concern other constituents as well, including preparers, auditors and regulators," said PCAOB Chairman James R. Doty.

 

IFAC UPDATES SUSTAINABILITY GUIDELINES

The International Federation of Accountants' Professional Accountants in Business Committee has significantly updated its Sustainability Framework, a document aimed at helping professional accountants and their organizations integrate sustainability into their strategy, operations and reporting.

The framework highlights the important roles that professional accountants play in facilitating the sustainable development of their organizations, as well as the importance of adopting an integrated approach to business reporting. Through key considerations, as well as examples from major international corporations, smaller firms, professional accountancy organizations, and leaders from around the world, the framework provides a comprehensive view of some of the current best practices globally, and is applicable to entities of all sizes and levels of complexity.

Presented in a digital magazine format, and available in PDF, the framework contains numerous internal links to allow accountants to navigate to the sections of most relevance to their particular roles. It is available at www.ifac.org.

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