The PCAOB’s new auditor’s reporting model provides auditors with a new opportunity
to communicate information.
But deciding what to say and how to say it while complying with the new standard is a challenge that practitioners and firm leaders are working carefully to meet.
Auditing Standard (AS) 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion, was issued in June 2017 and requires auditors to communicate in the auditor’s report the