Proposed New Requirements for Lead Auditor's Use of Other Auditors.

• Position: PCAOB News

The Public Company Accounting Oversight Board issued a second supplemental request for comment on its proposal to strengthen requirements that apply to audits involving multiple audit firms. The comment period runs through Nov, 30.

In many audits, the lead auditor issues the auditor's report, but other auditors perform important audit work to assist the lead auditor in obtaining sufficient appropriate audit evidence in support of the lead auditor's opinion(s).

To address the challenges of working with other auditors, the PCAOB previously issued a proposal to strengthen requirements regarding a lead auditor's responsibilities for planning...