Which of the following is a change that is not being debated by auditing standard setters and investors?
A) Adding disclosure about which engagement partner at the firm supervised the audit and who from outside the audit firm participated in the audit
B) Adding commentary on areas of risk of material misstatement of the financial statements identified by the auditor.
C) Adding commentary about the level of materiality applied by the auditor to perform the audit.
D) All of the above are being debated.

Question

Quizplus · Accepted Answer

All of the changes listed are actually being debated by auditing standard setters and investors. The Public Company Accounting Oversight Board has issued proposals related to auditor transparency and disclosure, including the requirement to disclose the engagement partner and other audit participants, as well as commentary on risk assessments and materiality.

Which of the Following Is a Change That Is Not