PCAOB proposes amendments to disclose specified firm-level metrics and engagement-level metrics of certain registered public accounting firms

The Public Company Accounting Oversight Board (PCAOB) issued proposals to standardize the disclosure of firm and engagement metrics. The proposed disclosures on the PCAOB’s public Annual Report Form and the Special Reporting Form aim to provide investors and stakeholders with standardized datasets.  The proposed metrics include partner and manager involvement, workload, audit resources – use of auditor’s specialists and shared service centers, experience of audit personnel, industry experience of audit personnel, retention and tenure, audit hours and risk areas (engagement-level only), allocation of audit hours, quality performance ratings and compensation (firm-level only), audit firms’ internal monitoring, and restatement history (firm-level only). The deadline for public comment is June 7, 2024.

The firm reporting proposal can be found here: PCAOB Release No. 2024-002

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