Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on PCAOB Rulemaking Docket Matter No. 042: PCAOB Release No. 2017-005, Proposed Amendments Relating to the Supervision of Audits Involving Other Auditors and Proposed Auditing Standard— Dividing Responsibility for the Audit with Another Accounting Firm

SUMMARY On September 26, 2017, the Public Company Accounting Oversight Board (PCAOB) solicited public comments on Proposed Amendments Relating to the Supervision of Audits Involving Other Auditors and Proposed Auditing Standard—Dividing the Responsibility for the Audit with Another Accounting Firm. The supplemental request for comment seeks commenters' views on the proposed amendments and standard related to audits involving accounting firms and individuals other than the accounting firm that issues the audit report. The comment period ended on November 15, 2017. This commentary summarizes the contributors' views on these amendments. Data Availability: The supplemental request for comment Proposed Amendments Relating to the Supervision of Audits Involving Other Auditors and Proposed Auditing Standard—Dividing Responsibility for the Audit with Another Accounting Firm is available at: https://pcaobus.org/Rulemaking/Docket042/2017-005-other-auditors-SRC.pdf, and the comment letter sent in by the Auditing Standards Committee is available at: https://pcaobus.org/Rulemaking/Docket042/020b_AAA.pdf.