On December 17, 2019, the Public Company Accounting Oversight Board (the Board or PCAOB) issued a request for comment on its Concept Release, Potential Approach to Revisions to PCAOB Quality Control Standards . The Board is considering revising its Quality Controls (QC) standards to focus firms on improving their QC systems. To reduce the compliance burden on firms, the Board is considering aligning its QC standards with those of the 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 (proposed ISQM 1). The comment period ended on March 16, 2020. This commentary summarizes the participating committee members’ views on selected questions on three topics presented in the Concept Release: Resources (questions 31, 32, 34, 36, 37), The Monitoring and Remediation Process (questions 45, 46, 47), and Roles and Responsibilities of Individuals (question 52).

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