KPMG reports on the new PCAOB auditing standard, AS 3101. This new standard represents the most meaningful change to the auditor’s report since the 1940s.
AS 3101, PCAOB Release No. 2017-001
Statement on SEC Approval dated October 23, 2017
CAM requirements
Effective date:
Large accelerated filers
All other filers
All other requirements
Fiscal years ending after
June 30, 2019
December 15, 2020
December 15, 2017
Early adoption allowed? Yes, once the SEC has approved the new standard.
The new standard is intended to enhance the auditor’s reporting model by:
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