--- title: Sullivan Blogs | SEC Pulse | Public Company Accounting Oversight Board description: Public Company Accounting Oversight Board | Sullivan's SEC Pulse blog provides updates and commentary from our Capital Markets Group on issues affecting publicly traded and privately owned businesses, investment banks and foreign companies who trade or raise capital in the United States, and boards of directors and company officers in securities transactions and corporate governance matters. --- ![SEC Pulse Header NEW-1](https://blog.sullivanlaw.com/hs-fs/hubfs/SEC%20Pulse%20Header%20NEW-1.jpg?width=943&name=SEC%20Pulse%20Header%20NEW-1.jpg "SEC Pulse Header NEW-1") ## [Auditor Reports to Require Additional Information](https://blog.sullivanlaw.com/secpulse/auditor-reports-to-require-additional-information) Posted by [Howard Berkenblit](https://blog.sullivanlaw.com/secpulse/author/howard-berkenblit) on June 2, 2017 at 11:00 AM - [Tweet](https://twitter.com/share) ![GettyImages-182188675.jpg](https://blog.sullivanlaw.com/hs-fs/hubfs/GettyImages-182188675.jpg?width=206&name=GettyImages-182188675.jpg)The Public Company Accounting Oversight Board has approved a new standard (though still subject to SEC approval) designed to enhance the relevance and usefulness of the Auditor's Report with additional information for investors. The new standard and related amendments require auditors to include in the auditor's report a discussion of the critical audit matters (CAMs), which are matters that have been communicated to the audit committee, are related to accounts or disclosures that are material to the financial statements, and involved especially challenging, subjective, or complex auditor judgment. Under the new standard, the auditor's report will disclose, among other things, the tenure of an auditor, specifically, the year in which the auditor began serving consecutively as the company's auditor. It also will include the phrase, "whether due to error or fraud," in describing the auditor's responsibility under PCAOB standards to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. If approved by the SEC, the new auditor's report format, tenure, and other information would be effective for audits for fiscal years ending on or after December 15, 2017. The communication of CAMs for audits of large accelerated filers would be effective for audits for fiscal years ending on or after June 30, 2019 and the communication of CAMs for audits of all other companies would be effective for audits for fiscal years ending on or after December 15, 2020. Communication of CAMs is not required for audits of emerging growth companies, brokers and dealers, investment companies other than business development companies, and employee stock purchase, savings and similar plans. A [fact sheet](https://pcaobus.org/News/Releases/Pages/fact-sheet-auditors-report-standard-adoption-6-1-17.aspx) on the new rules also is available: [https://pcaobus.org/News/Releases/Pages/fact-sheet-auditors-report-standard-adoption-6-1-17.aspx](https://pcaobus.org/News/Releases/Pages/fact-sheet-auditors-report-standard-adoption-6-1-17.aspx) 0 Comments [Click here to read/write comments](https://blog.sullivanlaw.com/secpulse/auditor-reports-to-require-additional-information#comments-listing) Topics: [SEC](https://blog.sullivanlaw.com/secpulse/topic/sec), [fraud](https://blog.sullivanlaw.com/secpulse/topic/fraud), [audit committee](https://blog.sullivanlaw.com/secpulse/topic/audit-committee), [Public Company Accounting Oversight Board](https://blog.sullivanlaw.com/secpulse/topic/public-company-accounting-oversight-board), [Critical Audit Matters](https://blog.sullivanlaw.com/secpulse/topic/critical-audit-matters) ## [Audit partner names to be made public](https://blog.sullivanlaw.com/secpulse/audit-partner-names-to-be-made-public) Posted by [Howard Berkenblit](https://blog.sullivanlaw.com/secpulse/author/howard-berkenblit) on December 16, 2015 at 5:06 PM - [Tweet](https://twitter.com/share) Subject only to SEC approval, the Public Company Accounting Oversight Board adopted rules yesterday that will require the disclosure of the name of the engagement partner and other accounting firms participating in an audit. The new rules will require auditing firms to file a new "Form AP" beginning in early 2017. For additional information and links to the rules and new Form AP, [click here](http://pcaobus.org/News/Releases/Pages/PCAOB-adopts-disclosure-rules-Form-AP-12-15-15.aspx). 0 Comments [Click here to read/write comments](https://blog.sullivanlaw.com/secpulse/audit-partner-names-to-be-made-public#comments-listing) Topics: [engagement partner](https://blog.sullivanlaw.com/secpulse/topic/engagement-partner), [Public Company Accounting Oversight Board](https://blog.sullivanlaw.com/secpulse/topic/public-company-accounting-oversight-board), [Form AP](https://blog.sullivanlaw.com/secpulse/topic/form-ap) [All posts](https://blog.sullivanlaw.com/secpulse/all) [![Sullivan 4c](https://blog.sullivanlaw.com/hs-fs/hubfs/Sullivan%20logos/Sullivan%204c.png?width=220&name=Sullivan%204c.png "Sullivan 4c")](http://www.sandw.com) ### About the Blog --- The SEC Pulse provides updates and commentary from our Capital Markets Group on issues affecting publicly traded and privately owned businesses, investment banks and foreign companies who trade or raise capital in the United States, and boards of directors and company officers in securities transactions and corporate governance matters. *The material on this site is for general information only and is not legal advice. 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