There’s only ten days until the new audit report debuts, so the PCAOB Staff Guidance is likely required reading for professional opiners and CPA exam candidates alike.
https://pcaobus.org/Standards/Documents/2017-12-04-Auditors-Report-Staff-Guidance.pdf
The explanation for reporting of auditor tenure takes two pages and the guidance even allows for a little freestyle:
AS 3101 does not specify a required location within the auditor’s report for the statement on auditor tenure. The example auditor’s report (on page 2) includes the statement on auditor tenure at the end of the report; however, auditors have discretion to present auditor tenure in the part of the auditor’s report they consider appropriate
I’m hoping a firm opts to disclose their tenure at the very top of their reports in 25-point Wingdings.
Elsewhere: You can report Critical Audit Matters early if you feel so inclined. There’s an annotated version of the report on page 2 for easy reading.
I’m sure the sharpest of auditors out there will have more to say about the finer points. Enjoy.