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PCAOB Reopens Comment on Communications Standard

Tammy Whitehouse | September 8, 2010

The Public Company Accounting Oversight Board has decided to reopen the comment process and gather more feedback on its proposed standard, Communications With Audit Committees, governing how auditors must communicate with audit committees.

The PCAOB scheduled a roundtable session for Sept. 21 and reopened the comment process on its proposed standard through Oct. 21. PCAOB Acting Chairman Daniel Goelzer said in a statement the roundtable “will be designed to explore some of the key issues commentators have raised and to develop ideas on how to improve communications between the auditor and the audit committee.”

The board initially proposed the standard in late March to drive more relevant and more effective communication between auditors and their audit committee clients. The intention was to emphasize two-way...

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