“In today’s complex economy, and particularly in light of lessons learned after the financial crisis, investors want a better understanding of the judgments that go into an audit opinion,” said PCAOB Chairman James R. Doty.  “This proposal delivers on the intention of Congress to further the public interest in the preparation of more informative audit reports for public investors.” 

When the proposal was first put forward in 2013, it was met with significant concern from the audit community. The NYSSCPA itself panned the proposal in a December 2013 comment letter which expressed skepticism that the additional information would be useful to investors, and that even if it were the case "We do not believe it would be productive or appropriate for auditors to provide information in audit reports that is intended to help investors or other users to assess an audit."

The Society also raised concern about the potential litigation risk for auditors that might accompany this proposal if it were implemented, a possibility that was explored in a 2014 issue of the Trusted Professional.