On June 1, the Public Company Accounting Oversight Board adopted a new audit report standard that will require, among other things, a discussion of “critical audit matters” and disclosure of the auditor’s tenure.
Subject to SEC approval, the new standard will be phased in over time, beginning with format changes and tenure disclosure for fiscal years ending on and after December 15, 2017; “CAMs” disclosure will be phased in for fiscal years beginning on and after June 30, 2019.
Watch for more details in The Securities Edge.
If you have any questions, please contact Gunster attorneys David Scileppi or Bob Lamm.
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This publication is for general information only. It is not legal advice, and legal counsel should be contacted before any action is taken that might be influenced by this publication.
About Gunster
Gunster, Florida’s law firm for business, provides full-service legal counsel to leading organizations and individuals from its 13 offices statewide. Established in 1925, the firm has expanded, diversified and evolved, but always with a singular focus: Florida and its clients’ stake in it. A magnet for business-savvy attorneys who embrace collaboration for the greatest advantage of clients, Gunster’s growth has not been at the expense of personalized service but because of it. The firm serves clients from its offices in Boca Raton, Fort Lauderdale, Jacksonville, Miami, Naples, Orlando, Palm Beach, Stuart, Tallahassee, Tampa Bayshore, Tampa Downtown, Vero Beach, and its headquarters in West Palm Beach. With more than 280 attorneys and consultants, and over 290 committed professional staff, Gunster is ranked among the National Law Journal’s list of the 500 largest law firms and has been recognized as one of the Top 100 Diverse Law Firms by Law360. More information about its practice areas, offices and insider’s view newsletters is available at www.gunster.com.
