The PCAOB has issued two proposed auditing standards, “The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion,” and “The Auditor’s Responsibilities Regarding Other Information in Certain Documents Containing Audited Financial Statements and the Related Auditor’s Report.” The proposed changes are intended to significantly enhance the auditor’s reporting model, retaining the current “pass/fail” approach but increasing the amount of other information included in auditors’ reports.