PCAOB to Consider Proposing Amendments to Improve Transparency Through Disclosure of Engagement Partner and Certain Other Participants in Audits

The Public Company Accounting Oversight Board has scheduled an open meeting for Tuesday, Oct. 11, at 9:30 a.m., to consider issuing for comment proposed amendments to its standards that would bring greater transparency to public company audits.

The proposed amendments would:

• require registered public accounting firms to disclose the name of the engagement partner in the audit report,
• amend the Board's Annual Report Form to require registered firms to disclose the name of the engagement partner for each audit report already required to be reported on the form, and
• require disclosure in the audit report of other accounting firms and certain other participants that took part in the audit.

The proposal to require disclosure of the name of the engagement partner would follow and build upon a related Concept Release issued by the Board on July 28, 2009.

The meeting will take place in the Board's meeting room at 1666 K St. N.W., Washington, D.C. It is open to the public and will be accessible online on the day of the event, and archived for access via podcast later in the day.