Survey Results: Auditor Inspection Reports and Engagement Letters

1. Have you requested information from your independent auditor about the non-public portions of the PCAOB's inspection report (ie. Part II of the report) that could impact your company's audit? (Total responses: n=30)
(select only one)
n=1 (3.33%) Yes, our auditor agreed in the auditor engagement letter to provide a copy of the inspection report
n=12 (40.00%) Yes, our auditor agreed informally to provide a summary or a copy of the inspection report
n=4 (13.33%) Yes, but auditor refused our request to receive information regarding the non-public portions of the inspection report
n=13 (43.33%) No, we have not made such a request from our auditor

2. Does your most recent engagement letter with your independent auditor include a provision that imposes a cap on the auditor's liability (ie. no liability except for willful misconduct and gross negligence)? (Total responses: n=30)
(select only one)
n=19 (63.33%) Yes
n=11 (36.67%) No

3. Does your most recent engagement letter with your independent auditor include a provision that waives a jury trial? (Total responses: n=30)
(select only one)
n=21 (70.00%) Yes
n=9 (30.00%) No