PCAOB may consider different mechanism for naming engagement partner
The PCAOB may consider a different mechanism for disclosing the name of the engagement partner after a proposal last year raised significant objections from the accounting profession.
Some investors have told the PCAOB that placing the name of the principal partner for engagements in public company audit reports would allow financial statement users to research meaningful information about engagement partners and their track records. But some in the accounting profession have said naming the engagement partner would not improve audit quality or provide useful information.
PCAOB Chairman James Doty plans to ask the board to approve a supplemental request for public comment on a new form that would be created solely for the purpose of naming the engagement partner and other firms participating in the audit, PCAOB Public Affairs Director Colleen Brennan said Wednesday. Read more on the Journal of Accountancy.