February 27, 2021

Partner Names: Coming to an Audit Near You in 2017

After nearly seven years since the first concept release, the SEC approved the PCAOB's rules for disclosing the names of audit engagement partners and other participating firms. You can read the entire SEC order if you find the securities regulation apparatus fascinating. Personally, I think it's interesting that another round of comments is allowed prior to final approval.

I suppose if a person or organization wasn't satisfied with their prior comments, this was one last chance to throw in an extra two cents. In this case, only four comment letters were submitted: two for (Deloitte, CFA Institue) and two against (US Chamber of Commerce, a partner from EisnerAmper). The SEC politely rejected the latter's final appeals to not approve the PCAOB's rules.

The partner disclosure rules go into effect for audit reports issued after January 31, 2017 while the supplemental audit firm disclosure will be require after June 30, 2017. 

[PCAOB, SEC Order]

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