The PCAOB on Tuesday, Feb. 11, withdrew its request for SEC approval of rules that would have required registered firms to report a significant new set of firm and engagement metrics.
An AICPA statement called the decision "the right one."
When the PCAOB approved the rules on Nov. 21, 2024, an AICPA statement warned against the "significant risk" that the new requirements could pose, reiterating its stance that the rules could "have unintended negative consequences, including driving small and medium-sized firms out of the public company auditing practice." Read more.