Institute Proposes Auditing Standards Changes to PCAOB


In response to a Public Company Accounting Oversight Board (PCAOB) request for comments (PCAOB release no. 2003-05), the auditing standards board recommended amendments to standards included in the PCAOB’s interim professional auditing standards ( http://cpcaf.aicpa.org/Resources/Sarbanes+Oxley/Archive+-+AICPA+Submits+Recommendations+on+Auditing+Standards+to+PCAOB.htm ). The ASB also proposed issuance of a new auditing standard, Retention of Records Relevant to Audits and Reviews and Strengthening the Commission’s Requirements Regarding Auditor Independence, to reflect certain provisions of the Sarbanes-Oxley Act of 2002 and SEC rules.

SPONSORED VIDEO

How KPMG is innovating the audit

KPMG's global audit team is using cognitive technology and alliances with tech and university partners to drive audit innovation. See how.

SPONSORED REPORT

States look to unclaimed property for revenue

This free report outlines the escheat process, common types of AUP, how different states are handling it and how companies can plan for potential audits and liabilities.