auditing

   The PCAOB adopted a new auditing model in June 2017 (pending SEC eulogy) “to repair the junction and benefit of the voucher's recital by providing added and significant notification to investors.” According to the PCAOB knowledge exempt, “The new model and connected amendments demand vouchers to conceive in the voucher's recital a argument of the discriminating audit matters (CAMs) which are matters that own been infectious to the audit committee, are connected to accounts or disclosures that are esthetic to the financial statements, and confused in-particular challenging, mental, or multifarious voucher discrimination. Under the new model, the voucher's recital conquer reveal, unmoulded other things, the tenure of an voucher, specifically, the year in which the voucher began serving consecutively as the company's voucher. It to-boot conquer conceive the characteristic, "whether due to deception or injury," in describing the voucher's allegiance underneathneath PCAOB models to pur-pose and effect the audit to get dispassionate boldness environing whether the financial statements are easy of esthetic misstatements.” Peruse the notification linked beneath and engage a face at one SEC note missive of your excellent. https://pcaobus.org/Rulemaking/Pages/Docket034.aspx PWC Video https://www.pwc.com/us/en/cfodirect/publications/in-brief/pcaob-new-auditor-reporting-model.html https://pcaobus.org/News/Releases/Pages/fact-sheet-auditors-report-standard-adoption-6-1-17.aspx https://pcaobus.org/News/Releases/Pages/auditors-report-standard-adoption-6-1-17.aspx https://pcaobus.org/Rulemaking/Docket034/2017-001-auditors-report-final-rule.pdf https://www.accountingtoday.com/news/pcaob-makes-major-changes-to-auditors-report https://www.sec.gov/rules/pcaob/2017/34-81187.pdf https://www.accountingtoday.com/news/groups-weigh-in-with-sec-on-pcaob-audit-report-standard https://www.radicalcompliance.com/2017/08/21/audit-report-choice-looms-sec/ PCAOB Note Letters https://pcaobus.org/Rulemaking/Pages/Docket034Comments.aspx TSCPA Note Missive to PCAOB https://pcaobus.org/Rulemaking/Docket034/062c_TSCPA.pdf SEC Note Letters https://www.sec.gov/comments/pcaob-2017-01/pcaob201701.htm Opinion Question 1: What is your judgment on the new audit recitaling model? Explain your thoughts.