AICPA, AAA, IAASB launch research project to better understand users' perceptions of auditor's report on financial statements.

The AICPA, the American Accounting Association and the International Auditing and Assurance Standards Board have joined forces to launch a research initiative that will provide a better understanding of users' perceptions of the financial statement audit and the auditor's report. The research is intended to independently examine the perceptions of users of financial statements in countries around the world.

A "Request for Proposal" was issued last month soliciting academic research to identify and provide information about such perceptions. The RFP can be downloaded from the IAASB home page at www.iaasb.org.

The AICPA's Auditing Standards Board has a current project to consider whether the auditor's report should be revised. The IAASB recently completed a project in this regard. The new research findings will provide important information that can be used as a basis for any future revisions to...