Overview
In our comment letter, we express general support of the PCAOB’s efforts to enhance stakeholder understanding of the audit and offer some support for the requirement to publicly report a set of firm metrics on an annual basis. However, we have significant concerns about the public disclosure of engagement metrics, as they could be misinterpreted or misused. We encourage the PCAOB to conduct further study of metrics and perform additional outreach to explore other solutions that may be more cost effective in achieving the proposal’s objectives.