BDO Comment Letter - Concept Release on Audit Quality Indicators
Request for Public Comment: PCAOB Release No. 2015-005, Concept Release on Audit Quality Indicators
BDO supports the PCAOB's exploration into the use of audit quality indicators (AQIs) in voluntary discussions with those concerned with the financial reporting and auditing process, particularly the audit committee, that may provide insights about how to evaluate the quality of audits and how high quality audits are achieved.
We encourage additional research regarding the relevance and usefulness of the PCAOB's proposed quantitative AQIs as well as further consideration of the significance and complexity of additional qualitative context that such AQIs require in order to be understood by investors or other users who would not otherwise have access to other relevant information related to the conduct of any one audit.