Consider changes to PCAOB rules and forms in light of the increased disclosure and demand for firm and engagement performance metrics. We are evaluating data from our oversight activities, current firm practices, and initiatives in other jurisdictions. 



On October 6, 2008, the U.S. Department of Treasury's Advisory Committee on the Auditing Profession ("ACAP") published a report detailing recommendations that would enhance the sustainability of a strong and vibrant public company auditing profession. This report contained a number of recommendations requiring action by several different organizations including regulators, professional bodies, and others. One of the ACAP recommendations suggested that the PCAOB, in consultation with auditors, investors, public companies, audit committees, boards of directors, academics, and others, determine the feasibility of developing key indicators of audit quality and effectiveness and requiring auditing firms to publicly disclose these indicators and, assuming development and disclosure of indicators of audit quality are feasible, require the PCAOB to monitor these indicators.  

In 2015 the PCAOB issued a Concept Release on Audit Quality Indicators and sought comment on 28 potential indicators.

Presently, some audit firms disclose certain firm-level level metrics publicly through their Audit Quality Reports, Transparency Reports, or other published reports. Other audit regulators either have or are considering initiatives related to the disclosure of firm metrics.



The staff is analyzing relevant information and developing a proposal for the Board’s consideration.