31 July 2015 — Consultation Response
FEE welcomes the PCAOB’s initiative to revise the standard on The Auditor’s Use of the Work of Specialists, such as appraisers and actuaries. The role of specialists has become imperative for both auditors and their respective clients, underlying the importance of this initiative. These specialists bring necessary expertise to audits at a time when business processes and transactions are becoming increasingly complex.
In its work overall, FEE advocates for global alignment of auditing standards, which enhances both the quality of audits and the acceptance of audit work world wide.