The Center for Audit Quality (CAQ) submitted a comment letter to the PCAOB on its proposal, Request for Public Comment on PCAOB Standard Setting.
In the letter, the CAQ expresses support for a publicly available conceptual framework grounded in transparency, stakeholder engagement, rigorous analysis, effective implementation and post-implementation support, and domestic and international coordination.
The CAQ recommends continuing research on data and technology, including digital assets, and prioritizing projects related to NOCLAR and fraud, auditor independence, and going concern. We also provide observations regarding the potential impact of the SEC’s semiannual reporting proposal on PCAOB standards.
Read the letter here.