Summary and Considerations: PCAOB AQI Concept Release
Wednesday, July 1, 2015
The Summary and Considerations: PCAOB AQI Concept Release outlines important considerations for audit committee members regarding the Public Company Accounting Oversight Board (PCAOB) Concept Release on Audit Quality Indicators. The PCAOB seeks public comment on its project to identify a manageable set of impactful, objective, and measurable indicators that may provide insights into how high quality audits are achieved so that audit firms and audits can be evaluated and compared. The PCAOB Audit Quality Indicators (AQIs) project could impact audit committees and how they oversee external auditors. Input from audit committee members is extremely valuable and critical to the PCAOB’s project because audit committees are identified as one of the potential primary users of AQIs.