PCAOB to Host a Public Meeting April 2-3 on the Auditor's Reporting Model Proposal

Washington, DC, Feb. 27, 2014

The Public Company Accounting Oversight Board announced today that it will host a public meeting on Wednesday and Thursday, April 2-3, to obtain further input on a proposal to enhance the auditor's reporting model.

The Board's August 2013 proposal includes a new auditing standard that is intended to make the audit report more relevant to investors by providing deeper insights from the audit based on information the auditor already knows from the audit. The proposal also includes a second auditing standard to enhance the auditor's responsibilities for other information in an annual report that contains audited financial statements and the auditor's report.

"We received many thoughtful, reasoned comments on the Board's proposal and this public meeting is intended to further explore the issues," said PCAOB Chairman James R. Doty.

The meeting will be organized as panel discussions and held in Washington, DC. Panelists will be invited to present their views on the matters raised in the proposal and the Board will have the opportunity to ask questions.

Panelists will include investors and investor advocates, senior executives and audit committee chairs of major corporations, representatives from audit firms, academicians, and other interested parties. The panelists and specific topics will be announced closer to the meeting date.

The meeting will be held at The Westin Washington DC City Center Hotel, 1400 M Street NW, Washington, DC. The meeting will be open to the public and also available via webcast on the PCAOB website.