PCAOB seeks comments on interim attestation standards

The PCAOB issued Monday a request for information and comment on the application and use of its interim attestation standards.

The request is expected to help inform potential recommendation that the staff may make to the board regarding updates to the interim attestation standards, which were adopted in 2003.

Modernizing standards is one of the PCAOB’s four key goals, according to its strategic plan released last month. Earlier this year, it announced “one of the most ambitious standard-setting agendas in PCAOB history,” including plans to modernize standards that have not been updated since they were adopted.

“We urge the public to provide our staff with input on how we can best bring our attestation standards up to date,” PCAOB chair Erica Y. Williams said in a news release.

PCAOB attestation standards apply to attest engagements, which generally involve issuing a report on subject matter, or an assertion about subject matter, that is the responsibility of another party.

The deadline for comments is Oct. 26. Additional information and specific questions for consideration can be found in the request for information and comment.

— To comment on this article or to suggest an idea for another article, contact Kevin Brewer at Kevin.Brewer@aicpa-cima.com.