The PCAOB has proposed amendments to auditing standard AS 6101 to modernize rules for auditor comfort letters. The proposal aims to remove the existing 135-day rule that currently limits when auditors can provide negative assurance. Under the new approach, auditors could offer negative assurance between the end of the last audited period and the issuer's next filing deadline. The PCAOB noted that AS 6101 has not been substantially changed since its adoption in 2003.
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