Auditing Practices Board

The Public Company Accounting Oversight Board issued a concept release last week to consider views on overhauling the audit report. Among the ideas is compelling audit firms to provide a discussion and analysis of issues in the financial statements. "It's about how audits can provide investors more insightful assessments of management stewardship," said PCAOB Chairman James Doty. More details inside.

Jay Hanson and his fellow members of the Public Company Accounting Oversight Board are considering a number of measures to improve quality of external audits. Inside, he answers questions on such topics as reforming the audit report, the role of corporate issuers in audit reform, and the audit inspection process.

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