NAREIT sent a comment letter on Aug. 3 to the Public Company Accounting Oversight Board (PCAOB) articulating its concerns with proposed changes to the audit framework for an auditor’s use of specialists.
A change to the existing audit framework isn’t necessary, according to NAREIT, noting that Staff Consultation Paper No. 2015-01 - The Auditor’s Use of the Work of Specialists did not identify a “pervasive problem” with current audit standards.
“The suggestions in the Staff Paper would only expand the work that auditors perform today, with no increase in the reliability or credibility of the audited financial statements,” NAREIT said.
(Contact: Chris Drula at firstname.lastname@example.org)