Comment Letters

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Mazars USA LLP is committed to supporting professional standards and we are pleased to present our Comment Letters and responses related to recent, proposed accounting, auditing, professional standards, and regulatory changes. Our Comment Letters are prepared by our Quality & Risk Management team.

Learn more about Quality & Risk Management at Mazars here

Featured Comment Letters

Re: Proposed Statement on Accounting and Review Services – Quality Management for an Engagement Performed in Accordance with Statements on Standards for Accounting and Review Services
January 31, 2022
Mazars USA LLP (“Mazars”) welcomes the opportunity to comment on the Proposed Statement on Accounting and Review Services – Quality Management for an Engagement Performed in Accordance with Statements on Standards for Accounting and Review Services.

Re: PCAOB’s Proposed Amendments Relating to the Supervision of Audits Involving Other Auditors and  Proposed Auditing Standard – Dividing Responsibility for the Audit with Another Accounting Firm
November 30, 2021
Mazars USA LLP (“Mazars”) welcomes the opportunity to comment on PCAOB Release No. 2021-005 Rulemaking Docket Matter No. 042 Second Supplemental Request for Comment: Proposed Amendments Relating to the Supervision of Audits Involving Other Auditors and Proposed Auditing Standard – Dividing Responsibility for the Audit with Another Accounting Firm (the “proposed standard”). Mazars appreciates the PCAOB’s work to enhance the quality of audit engagements through the revision of the existing PCAOB standards.

Re: Proposed Quality Management Standards (three interrelated standards) designed to Enhance and Maintain a CPA Firm’s Audit Quality
August 30, 2021
Mazars USA LLP (Mazars USA) welcomes the opportunity to comment on the questions raised by the
AICPA’s Auditing Standards Board (ASB) in their Exposure Draft on the proposed Quality Management
Standards (Proposed Quality Standards) 

Re: Proposed Statement on Auditing Standards – Inquiries of the Predecessor Auditor Regarding Fraud and Noncompliance with Laws and Regulations
June 30, 2021
Mazars USA LLP (“Mazars”) welcomes the opportunity to comment on Proposed Statement on Auditing Standards – Inquiries of the Predecessor Auditor Regarding Fraud and Noncompliance with Laws and Regulations.

Re: Discussion Paper, Fraud and Going Concern in an Audit of Financial Statements: Exploring the Differences 
Between Public Perceptions About the Role of the Auditor and the Auditor’s Responsibilities in a Financial
Statement Audit)
February 1, 2021
Mazars USA LLP (Mazars USA) welcomes the opportunity to provide our insights on the questions raised in the International Auditing and Assurance Standards Board’s (IAASB or the Board) Discussion Paper, Fraud and Going Concern in an Audit of Financial Statements: Exploring the Differences Between Public Perceptions About the Role of the Auditor and the Auditor’s Responsibilities in a Financial Statement Audit (the Discussion Paper).

Re: Exposure Draft: Proposed International Standard on Auditing 600 (Revised), Special Considerations—Audits of Group Financial Statements (including the Work of Components Auditors)
October 2, 2020
Mazars USA LLP (Mazars USA) welcomes the opportunity to comment on the International Auditing and Assurance Standards Board’s (IAASB or the Board) Exposure Draft, International Standard on Auditing 600 (Revised), Special Considerations—Audits of Group Financial Statements (including the Work of Components Auditors) (ED-600 or the Exposure Draft).

Re: Interim Analysis No. 2020-01, Critical Audit Matter Requirements
June 15, 2020
Mazars USA LLP (Mazars) welcomes the opportunity to provide feedback on our initial experiences with Critical Audit Matters (CAMs), from the first stage of adoption of AS 3101, The Auditors Report on an Audit of Financial Statements When the Auditor Express an unqualified Opinion. Mazars appreciates the PCAOB’s efforts to gain an understand of our experiences, by performing an interim analysis before the second phase of CAM implementation begins.

Comment Letter – Request for Comment on the International Auditing and Assurance Standards Board’s (IAASB or the Board) Quality Management exposure drafts

July 1, 2019
Mazars USA LLP (Mazars USA) welcomes the opportunity to comment on the International Auditing and Assurance Standards Board’s (IAASB or the Board) Quality Management exposure drafts: Proposed International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements (ED-ISQM 1), Proposed International Standard on Quality Management 2, Engagement Quality Reviews (ED-ISQM 2), and Proposed International Standard on Auditing 220 (Revised), Quality Management for an Audit of Financial Statements (ED-220) (collectively, the Proposed Standards).