Comments of the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the PCAOB’s Amendments to PCAOB Auditing Standards Related to a Company’s Noncompliance with Laws and Regulations and Other Related Amendments

SUMMARY On June 6, 2023, the Public Company Accounting Oversight Board (the Board or PCAOB) issued a request for comment on its Amendments to PCAOB Auditing Standards Related to a Company’s Noncompliance with Laws and Regulations and Other Related Amendments (Public Company Accounting Oversight Board (PCAOB) 2023b). This commentary summarizes the participating committee members’ views on the proposal. Based on our consideration of the issues, we do not support the proposal, due to a number of fundamental concerns.