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Auditing Standards Board releases consultation paper on its forward strategy
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Five high-level strategic initiatives serve as the backbone of the AICPA Auditing Standards Board’s (ASB’s) proposed 2026–2030 strategic plan.
The initiatives help the ASB serve its mission, which is: “To serve the public interest by developing, updating, and communicating comprehensive auditing, attestation, and quality management standards and practice guidance that enable practitioners to provide high-quality, objective audit and attestation services effectively and efficiently.”
In formulating the proposed strategy, according to a letter from ASB Chair Sara Lord, CPA, and AICPA Chief Auditor Jennifer Burns, CPA, the ASB “considered the efficacy of our current strategy, which has been focused on quality, convergence with international standards (as appropriate), and our ability to be nimble and react timely to emerging developments.”
Lord and Burns also wrote: “We have expanded and deepened our collaboration with standard setters and regulators in the United States and internationally. We are also continually assessing whether our standards are scalable and capable of being consistently applied by monitoring the implementation and adoption of our standards and incorporating feedback received into the standard-setting process.”
The five initiatives are:
- Develop high-quality standards in the public interest;
- Enhance communication with stakeholders;
- Think and operate strategically;
- Keep our standards relevant in a changing environment; and
- Support the effective implementation and application of our standards.
In recent years, the ASB’s strategic approach has led to the development of a suite of quality management standards, solutions for the increasing demand for sustainability assurance, and resources that use technology to elevate audit effectiveness.
Regarding the 2026–2030 strategic plan, the ASB seeks comments by June 13. Comments can be sent by completing an ASB survey or by email to commentletters@aicpa-cima.com.
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— To comment on this article or to suggest an idea for another article, contact Neil Amato at Neil.Amato@aicpa-cima.com
