PCAOB may propose reorganization of auditing standards

BY KEN TYSIAC

The PCAOB is considering proposing a reorganization of its auditing standards that would be designed to present them in a logical order that generally follows the flow of how an audit is conducted.

An open meeting of the board has been scheduled for 9:30 a.m. Tuesday to consider issuing for public comment a proposal that would reorganize the PCAOB’s standards.

The board is considering a potential framework that would organize the board’s existing interim and PCAOB-issued standards into a topical structure with a single, integrated numbering system, along with certain implementing amendments to its rules and standards.

In addition to presenting the standards in a logical order, the proposed reorganization would be intended to help users navigate the standards more easily. The meeting will be available via webcast on the PCAOB website.

Ken Tysiac ( ktysiac@aicpa.org ) is a JofA senior editor.

SPONSORED REPORT

How the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out