PCAOB Firm and Engagement Metrics | PCAOB Firm Reporting
TXCPA’s Professional Standards Committee supports consistent firm-level metrics and agrees with the 11 proposed areas but urges exemptions for smaller firms from expanded reporting, citing undue burden and minimal systemic risk.
PCAOB Firm and Engagement Metrics and PCAOB Firm Reporting
Firm and Engagement Metrics view proposal
View TXCPA comment letter (May 28, 2024)
PCAOB News Release (April 9, 2024)
Firm and Engagement Metrics
The TXCPA Professional Standards Committee (PSC) recognizes that some large firms are already providing many of the firm-level metrics specified in the Release and all stakeholders would benefit from a consistent calculation methodology and comparable presentation format. In general, the PSC agrees with the 11 proposed areas at the firm level
Firm Reporting
The Firm Reporting requirements would create significantly increased data accumulation and event monitoring and reporting burden on firms, with a disproportionate impact on smaller firms. The PSC recommends that smaller firms be exempted from the proposal’s expanded Special Reporting and Cybersecurity reporting requirements, including the reduced reporting deadline, as these firms do not represent systemic risk to the profession.
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