The Public Company Accounting Oversight Board (PCAOB) will hold an open meeting next week to seek comments from the public on proposed auditing standards to enhance the auditor’s reporting model and the auditor’s responsibility.

These proposals are meant to increase the quality of the auditor’s communication to those relying on the audit report.

PCAOB said in a statement: "The auditor’s report has changed very little since the 1940s. Since that time, the size and complexity of US capital markets has greatly increased, and a greater percentage of American households invest their savings in the stock market than ever before."

The meeting will take place on 13 August.

Related link:

Public Company Accounting Oversight Board

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