US Investors Renew Call for Audit Partner Disclosure
Published August 27, 2014
, a UK publication, reported on the Council of Institutional Investors’ (CII) request that the Public Company Accounting Oversight Board (PCAOB) include an engagement partner disclosure requirement in the scope of the PCAOB's policy standards agenda. "The Council strongly supports requiring disclosure in the auditor's report of the name of the engagement partner," a letter to the PCAOB signed by CII general counsel Jeff Mahoney read. The publication’s Steffen Muller noted that the U.S. audit profession has shown little support for the proposal. “What value will it bring to the end-user to have the engagement partner physically sign the audit report with their names instead of the name of the firm," AICPA Vice President for Firm Services & Global Alliances Mark Koziel told The Accountant
. “Auditors are already doing the best job they possibly can and signing their name is not going to raise the level of quality of the audit,” Koziel argued.