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After a contentious comment period, the U.S. Public Company Accounting Oversight Board (PCAOB) has released Rule 3211 requiring registered public accounting firms to disclose the
After a contentious comment period, the U.S. Public Company Accounting Oversight Board (PCAOB) has released Rule 3211 requiring registered public accounting firms to disclose the name of the audit partner for each audit report. Therefore, starting in 2017, audit reports for publicly listed U.S. firms include not just the name of the audit firm, but also the name of the audit engagement partner. Researchers who tested the impact of Rule 3211 on U.S. firms found a significant increase in audit fees and a significant decrease in audit delay (i.e., the number of days between the fiscal year end and the date of the audit report) in the first year of adoption. b) What do the findings on audit fees and audit delay tell us in terms of investor protection rights
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