BDO Comment Letter - Possible Revisions to Audit Committee Disclosures
SEC Concept Release No. 33-9862; 34-75344: Possible Revisions to Audit Committee Disclosures; File No. S7-13-15
BDO supports the SEC's outreach to stakeholders to explore ways to enhance an audit committee's disclosures about how an audit committee discharges its responsibilities with respect to its oversight of the auditor, the process for selecting the auditor, and consideration of the qualifications the firm and its engagement team members when selecting the audit firm. We provide considerations about the fuller scope of audit committee responsibilities as well as what we see as challenges in providing sufficient useful information to the marketplace.