In June 2017, the Public Company Accounting Oversight Board (PCAOB) adopted a new auditing standard (AS 3101) that enhances the relevance and usefulness of the auditor's unqualified report by communicating additional and important information to investors referred to as “critical audit matters.” Discuss in detail this new standard and provide your expectation for the pros and cons in implementing the new standard.

Answer rating: 100% (QA)

In 2017 the PCAOB adopted a new auditor reporting standard AS 3101 The Auditors Report on an Audit of Financial Statements When the Auditor Expresses ... View the full answer