<p class="MsoNormal" style="text-align: justify; margin: 0in 37.2pt 0pt 0.5in;"><span style="font-family: &quot;Times New Roman&quot;,&quot;serif&quot;; font-size: 10pt; mso-bidi-font-style: italic;">The reporting of non-financial business information is highly regarded by valuation experts for better capital allocation decisions in the marketplace.<span style="mso-spacerun: yes;">&nbsp; </span>In January 2005, the AICPA created the Enhanced Business Reporting (EBR) Consortium and charged it with developing a framework that will improve the quality, integrity, and transparency of business information in a cost-effective and timely manner.<span style="mso-spacerun: yes;">&nbsp; </span>A draft of the EBR framework was completed in October 2005.<span style="mso-spacerun: yes;">&nbsp; </span>However, independent auditors may reject many provisions of the framework because auditing costs exceed informational benefits.<span style="mso-spacerun: yes;">&nbsp; </span>This study analyzes the current EBR framework from an independent auditor's perspective.<span style="mso-spacerun: yes;">&nbsp; </span>Qualitative analysis is used to evaluate the auditing implications of providing EBR disclosures to company stakeholders.<span style="mso-spacerun: yes;">&nbsp; </span>The findings indicate that the gains of providing better value oriented EBR information are offset by potential management misrepresentation through highly subjective EBR disclosures.<span style="mso-spacerun: yes;">&nbsp; </span>Moreover, many EBR elements are not subject to audit at reasonable cost.<span style="mso-spacerun: yes;">&nbsp; </span>The voluntary aspect of EBR makes intercompany and intracompany financial comparisons more difficult.</span></p>