Comments of the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the PCAOB’s Proposal on Firm and Engagement Metrics

SUMMARY On April 9, 2024, the Public Company Accounting Oversight Board (the Board or PCAOB) issued a request for comment on its proposal Firm and Engagement Metrics (PCAOB 2024a). This comment letter summarizes the views of the participating members of the Auditing Standards Committee of the Auditing Section of the American Accounting Association. We commend the PCAOB for its efforts to promote audit quality by emphasizing firm and engagement metrics. Based on our evaluation of the proposal, we offer some overall observations, key takeaways from academic research, and perspectives on the PCAOB’s economic analysis.