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

Get your clients ready for tax season

These year-end tax planning strategies address recent tax law changes enacted to help taxpayers deal with the pandemic, such as tax credits for sick leave and family leave and new rules for retirement plan distributions, as well as techniques for putting your clients in the best possible tax position.

RESOURCES

Keeping you informed and prepared amid the coronavirus crisis

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.