Hunton Retail Law Resource

Last month, the Public Company Accounting Oversight Board (“PCAOB”) adopted a series of new audit standards that will impact the audit reporting model for public companies, including publicly traded retailers. The standards must still receive final approval from the Securities and Exchange Commission, but assuming the SEC approves them, the new standards will make substantial changes to the form of the annual auditor’s report, most notably by requiring a new discussion of “critical audit matters.”

Read our full alert.