PCAOB Announces SAG Meeting Agenda Focused on Audit Quality Indicators and Emerging Issues for November 12-13

Washington, Oct. 29, 2015

The Public Company Accounting Oversight Board today released the agenda for the next meeting of its Standing Advisory Group to be held November 12-13, 2015, in Washington focused largely on audit quality indicators and emerging issues.

Participants will also receive an update on the project regarding the auditor's use of the work of specialists, recent PCAOB developments, and the Board's other current standard-setting activities.

On Thursday, November 12, staff of the PCAOB Office of Research and Analysis will open a discussion on the audit quality indicators initiative. Earlier this year, the PCAOB issued for public comment a concept release on AQIs. After the presentation and update, the group will split into breakout sessions to further discuss AQIs.

The other major topic for discussion, emerging issues that could affect audits, auditors, or the PCAOB, will be introduced by a panel of SAG members. The SAG also will have breakout sessions for this topic.

All breakout sessions on Thursday will be closed to the public. A summary of the discussions from the sessions, however, will be presented on Friday, November 13.

Also on Friday, the Office of the Chief Auditor will discuss the project on the auditor's use of the work of specialists, including comments received on the staff consultation paper.

The SAG meeting will be held at the FHI Conference Center at 1825 Connecticut Avenue NW, Washington, DC. The meeting also will be available via webcast on the PCAOB website.

Consistent with its standard practice, the Board is reopening until November 30, 2015, the comment period on the Concept Release on Audit Quality Indicators to provide an opportunity for members of the public to offer their views, including on any new information that becomes available as a result of the SAG meeting.

Comments may be submitted by postal mail or electronic mail. Written comments should be sent to the Office of the Secretary, PCAOB, 1666 K Street NW, Washington, DC 20006-2803. Email may be sent to [email protected]. All comments should refer to PCAOB Rulemaking Docket Matter No. 041 in the subject or reference line and should be received by the PCAOB no later than 5 p.m. (EDT) on November 30, 2015. All comments will be made public.

The Standing Advisory Group advises the PCAOB on the development of auditing and related professional practice standards. The SAG includes investors, auditors, public company executives, and others. More information on the Standing Advisory Group is available on the PCAOB website.