The Treasury Department's Advisory Committee on the Auditing Profession convened an open meeting to hear testimony on its draft report on recommendations for improving the profession, as well as to discuss an addendum with additional recommendations.
The new recommendations include urging the Public Company Accounting Oversight Board to undertake a standard-setting initiative to consider improvements to the auditor's reporting model. The addendum also discusses the question of whether to add the engagement partner's signature to the auditor's report.
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