Survey Results: Auditing Standard #18: D&O Questionnaires


1. Did you update your D&O questionnaire in response to the PCAOB’s new Audit Standard #18 regarding related-party transactions? (select only one)
  Answer Responses Percent  
Yes 47 66.2%
No 24 33.8%
It hasn’t come up yet 0 0.0%

2. Did your independent auditors ask for a list of immediate family members of directors and officers? (select only one)
  Answer Responses Percent  
Yes 46 64.8%
No 22 31.0%
It hasn’t come up yet 3 4.2%

3. Did your auditors also ask for information regarding entities over which your directors, officers & their immediate family members control or have significant influence? (select only one)
  Answer Responses Percent  
Yes 46 64.8%
No 21 29.6%
It hasn’t come up yet 4 5.6%

4. If you did update your D&O questionnaire, did your auditor ask you to do so? (select only one)
  Answer Responses Percent  
Yes 31 44.3%
No 22 31.4%
Not applicable because we didn’t update our questionnaire 17 24.3%

5. If you did update your D&O questionnaire, will you also be seeking quarterly certifications or updates from your directors and officers? (select only one)
  Answer Responses Percent  
Yes 11 15.7%
No 41 58.6%
Not applicable because we didn’t update our questionnaire 18 25.7%

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