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IAASB Welcomes PCAOB's New Enhanced Auditor Reporting Standard

The International Auditing and Assurance Standards Board (IAASB) welcomes the adoption by the US Public Company Accounting Oversight Board (PCAOB) of a new auditing standard to enhance auditor’s reports by providing additional, relevant information to users, including critical audit matters. 

The PCAOB’s new standard, which is subject to US Securities and Exchange Commission (SEC) approval, is comparable with the IAASB’s new and revised Auditor Reporting Standards, which require the communication of key audit matters in auditor’s reports of listed entities and became effective for December 2016 year-end audits.


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