PCAOB to Hold Open Meeting May 11 to Consider Reproposing Standard on the Auditor’s Reporting Model

WASHINGTON, May 6, 2016

The Public Company Accounting Oversight Board today announced an Open Meeting on Wednesday, May 11, at 10 a.m., to consider a reproposal that would provide additional information in the auditor's report.

As with the original proposal, the reproposal under consideration May 11 is expected to retain the pass/fail model of the existing auditor's report while making the report more relevant and informative to investors and other financial statement users.

The reproposal builds on several years of PCAOB outreach, in which many investors and other financial statement users consistently urged the Board to make the auditor's report more useful to investors. For more information on the history of the project, refer to Rulemaking Docket 034.

The meeting is open to the public and will take place in the Board's meeting room at 1666 K Street NW, Washington, DC. A live webcast via a link on the PCAOB website will be made available the day of the meeting and a recording will be available in the archive the next day.