There has been significant international discussion about the need for auditors to provide more relevant information to investors, analysts and other users of the auditor's report. CPAB supports the need for more transparency with respect to auditor reporting. Auditors need to provide greater value by sharing more information about key audit matters in the audit report which will ensure focus on areas of most significant risk. In 2013, the International Auditing and Assurance Standards Board (IAASB) and the US Public Company Accounting Oversight Board (PCAOB) both released draft proposals about auditor reporting. CPAB submitted detailed comment letters on both proposals, which can be found below.