PCAOB to Hold Webinars on Implementing Recent Changes to the Auditor's Report on Dec. 12 and Jan. 10
The Public Company Accounting Oversight Board will host webinars on Tuesday, December 12, 2017, and Wednesday, January 10, 2018, on the implementation of recent changes to the auditor's report that become effective for audits of financial statements for fiscal years ending on or after December 15, 2017.
“These webinars are important pieces of the PCAOB outreach effort to assist firms as they implement the new requirements of this important standard,” said PCAOB Chairman James R. Doty.
The webinars will highlight specific changes to the auditor’s report required this year, such as auditor tenure, independence, and other key elements of the auditor’s report.
Although the most significant change to the auditor’s report under the new standard, "The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion" ( AS 3101), is the communication of critical audit matters, the implementation of this change is not required until June 30, 2019, or later.
“Firms may have questions about the implementation of these new requirements,” said Director of Outreach and Small Business Liaison Greg Scates. “We encourage participants to submit questions in advance of the webinars.”
The December 12 webinar will begin at 1 p.m., and the January 10 webinar will begin at 11 a.m. Both webinars are expected to last one hour and will cover the same material.
There is no fee to participate, but registration is required. Registration for the December webinar is due by December 7, and for the January webinar by January 5. Participants have the opportunity to earn continuing professional education credits.
PCAOB webinars are an efficient and cost-effective way for PCAOB-registered firms to hear from and talk to PCAOB staff. Recordings of previous webinars are available on the Forums and Public Outreach web page.
Please contact the Office of Outreach and Small Business Liaison at [email protected] or (202) 591-4135 with registration questions.